Berkeley Energia Limited Update on Spanish Regulatory Regime (3247C)
October 16 2020 - 1:44AM
UK Regulatory
TIDMBKY
RNS Number : 3247C
Berkeley Energia Limited
16 October 2020
NEWS RELEASE | 16 October 2020
Update on Spanish Regulatory Regime
Berkeley Energia Limited ("Berkeley" or the "Company") notes
that the parliamentary groups of two political parties in the
Spanish Government (Unidas Podemos and PSOE) submitted on 14
October 2020 (Spanish time), a series of proposed amendments to the
draft climate change and energy transition bill which was
originally presented to the Spanish Parliament in May 2020 and,
from a resource sector perspective, focusses on fossil fuels,
hydrocarbons and fracking with no reference to radioactive
materials (e.g. uranium).
Under one of the proposed amendments, investigation and
exploitation of radioactive minerals would be prohibited in the
Spanish territory and any open proceedings related to the
authorisation of radioactive facilities of the nuclear fuel cycle
for the processing of such minerals would be closed.
It is important to note that this is currently only a proposed
amendment to the draft climate change and energy transition bill
that must now be reviewed and approved or rejected by the
Commission of Ecological Transition of the Parliament, and
subsequently follow the same process in the Senate. The processes
in both the Parliament and the Senate must be completed and
consistent, and the proposed amendment supported by a majority of
votes in both Commissions for it to be approved. Accordingly, the
specific proposed amendment relating to the investigation and
exploitation of radioactive minerals may or may not be included in
the final draft of the climate change and energy transition
bill.
Berkeley's position on the content of this proposed amendment is
clear: prohibition of economic activities in Spain with no
justified reasons is contrary to the Spanish Constitution and to
the legal rights recognised by other international instruments. In
particular, it must be taken into account that the Company
currently holds legal, valid and consolidated rights for the
investigation and exploitation of its mining projects, including a
valid 30 year mining licence (renewable for two further periods of
30 years) for the Salamanca mine. The approval of an amendment of
such nature would imply a retroactive measure which expropriates
the legal rights of Berkeley with no justification.
Following the recent grant of the Urbanism License by the
Municipality of Retortillo, and more than 120 previously granted
permits and favourable reports by the relevant authorities at the
local, regional, federal and European Union levels, the
Authorisation for Construction for the uranium concentrate plant as
a radioactive facility ("NSC II") is now the only pending approval
required to commence full construction of the Salamanca mine.
The Company is continuing to engage with the relevant
authorities in a collaborative manner in progressing the approval
process for the Salamanca mine and will keep the market fully
informed of any developments.
For further information please contact:
Robert Behets Franciso Bellón
Acting Managing Director Chief Operations Officer
+61 8 9322 6322 +34 91 555 1380
info@berkeleyenergia.com
This announcement as been authorised for release by Mr Robert
Behets, Director.
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