Berkeley Energia Limited Update on Spanish Regulatory Regime (1626Q)
February 24 2021 - 1:15AM
UK Regulatory
TIDMBKY
RNS Number : 1626Q
Berkeley Energia Limited
24 February 2021
BERKELEY ENERGIA LIMITED
NEWS RELEASE | 24 February 2021
Update on Spanish Regulatory Regime
Berkeley Energia Limited ("Berkeley" or the "Company") notes
media reports following a meeting of the Ecological Transition
'Ponencia' ("Ponencia") held on 23 February 2021 that discuss
changes to the proposed amendment to the draft climate change and
energy transition bill relating to the investigation and
exploitation of radioactive minerals (e.g. uranium). Under the
modified amendment proposed by the Ponencia:
-- New applications for exploration, investigation or direct
exploitation concessions for radioactive materials, nor their
extensions, would not be accepted as of the entry into force of
this law.
-- Existing concessions, and open proceedings and applications
related to these, would continue as per normal based on the current
legislation.
The Ponencia is a sub-committee of the Commission of Ecological
Transition of the Parliament in Spain formed to carry out a
detailed study of the proposed amendments to the draft climate
change and energy transition bill prior to, and in preparation for,
the review and decisions of the full Commission of Ecological
Transition of the Parliament. The outcomes of the meetings of the
Ponencia are non-binding, are subject to change with ongoing study
and discussions, and have not been formally published by the
Spanish Government.
As reported by the Company last year, the parliamentary groups
of two political parties in the Spanish Government (Unidas Podemos
and PSOE) submitted a series of proposed amendments to the draft
climate change and energy transition bill in October 2020. 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.
The modified text proposed by the Ponencia establishes that "As
of the entry into force of this law, no new applications will be
accepted for the granting of exploration permits, investigation
permits or direct exploitation concessions, nor their extensions,
regulated under Law 22/1973, of July 21, on mines of radioactive
minerals, as defined in Law 25/1964, of April 29, on nuclear
energy, when such resources are extracted for their radioactive,
fissile or fertile properties. In addition, applications for the
authorisation of new radioactive facilities of the nuclear fuel
cycle for the processing of radioactive minerals, as defined in the
Regulation on nuclear and radioactive facilities, will no longer be
accepted." Importantly, existing rights for exploration,
investigation and exploitation concessions would remain in force
during their validity period. Existing proceedings underway would
also continue under the legal framework set up by the current
regulations.
It is important to note that this remains only a modified
amendment to the draft climate change and energy transition bill
proposed by the Ponencia 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 Spanish
Senate. The processes in both the Parliament and the Senate must be
completed and consistent, and the proposed modified amendment
supported by a majority of votes in both Commissions for it to be
approved. Accordingly, the proposed modified 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 any adverse changes that may be included
in the final draft of the climate change and energy transition bill
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 any amendment
which would imply a retroactive measure which expropriates the
legal rights of Berkeley with no justification is not
acceptable.
With 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 the only pending approval required to commence full construction
of the Salamanca mine.
The Company is continuing to engage with the relevant
authorities to advance the approvals 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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