24th Apr 2014 12:38
LONDON (Alliance News) - Berkeley Resources Ltd Thursday said it has been granted the mining licence for Retortillo deposit, part of its flagship Salamanca Project in Spain.
The Australia-based mineral exploration company said the Retorillo deposit is the first resource from which production is scheduled to commence, and the grant of the mining licence is a major milestone, following the completion of a number of studies and technical review sessions with relevant government agencies.
Berkeley Resources said the mining licence is valid for an initial period of 30 years, but may be renewed for two additional periods of 30 years.
It covers an area of 25.2 square kilometres, and includes the entire area containing the Retortillo Mineral Resource Estimate, the firm said.
Berkeley Resources shares were up 1.6% at 15.50 pence Thursday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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