Berkeley Energia Limited Update on Spanish Regulatory Regime (9533U)
09 April 2021 - 4:00PM
UK Regulatory
TIDMBKY
RNS Number : 9533U
Berkeley Energia Limited
09 April 2021
BERKELEY ENERGIA LIMITED
NEWS RELEASE | 9 April 2021
Update on Spanish Regulatory Regime
Berkeley Energia Limited ("Berkeley" or the "Company") notes
media reports following a meeting of the Commission of Ecological
Transition of the Parliament in Spain ("Commission") held on 8
April 2021, that discuss the Commission's approval of an amendment
to the draft climate change and energy transition bill relating to
the investigation and exploitation of radioactive minerals (e.g.
uranium).
Berkeley understands the Commission reviewed and approved the
modified amendment proposed by the Ecological Transition Ponencia
("Ponencia") in February 2021 (see announcement dated 24 February
2021) however, the Company
awaits publication of the detailed text of the approved amendment to confirm this.
As previously reported by the Company, 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.
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.
The amendment to the draft climate change and energy transition
bill approved by the Commission must now be reviewed and approved
or rejected by the Spanish Senate. The process in the Senate must
be completed and consistent with that of the Parliament, and the
amendment supported by a majority of votes, for it to be approved.
Accordingly, the 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 Francisco Bellón
Acting Managing Director Chief Operations Officer
+61 8 9322 6322 +34 91 555 1380
info@berkeleyenergia.com
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END
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