May 28, 2019 / 8:55 AM / 18 days ago

UPDATE 1-Miner Berkeley says it has no new information on Spanish uranium project after shares surge

(Adds details)

MADRID, May 28 (Reuters) - Berkeley Energy, which is trying to secure two major permits to develop a uranium mine in Spain, said it had no new information to explain a surge in its share price on Monday but noted a change in local government at the mine’s location.

The company released its statement in response to a query on its share price and volume from the Australian Securities Exchange. Its share price has been highly volatile in reaction to any developments on the project.

Berkeley wants to build Europe’s only open-cast uranium mine in the town of Retortillo, near Salamanca, but sources told Reuters last year the Socialist government plans to deny it a permit.

The company’s share price jumped nearly 28% in Australian trading on Monday, a day after local elections gave Spain’s conservative opposition People’s Party (PP) four out of five council seats in Retortillo.

The company mentioned the local election in its statement, without making any further comment on it.

The local authority had previously said it cannot issue a building licence if other permits have not been issued.

While Berkeley has obtained most of the permits needed to build and operate the mine, it still lacks key authorisations from the Spanish government and the country’s nuclear watchdog.

Berkeley has said previously that it was confident it would obtain the final permits needed for the mine to start operating.

Reporting by Paul Day; Editing by Tomas Cobos and Susan Fenton

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below