20th Jul 2015 07:53
LONDON (Alliance News) - Berkeley Resources Ltd on Monday said the Nuclear Safety Council has issued a favourable report related to the Salamanca project in Spain, representing a "major permitting milestone" for the company.
The Nuclear Safety Council is the authority responsible for nuclear safety and radiological protection in Spain. It is an independent regulatory body which reports on its activities to the Spanish Parliament.
The Salamanca project includes the Retortillo, Alameda, Zona 7 and Gambuta deposits plus a number of other satellite deposits and is aiming to produce triuranium octoxide, which is a compound of uranium.
The company said the report from the Nuclear Safety Council is the first of a three step process to get the plant at the project into operation. The report is compulsory and binding for the grant of initial authorisation, it said.
"The report is an official recognition of the purpose and selected location of the process plant, and represents a significant permitting milestone for the company," said Berkeley. "This authorisation allows the commencement of preliminary infrastructure works to access the plant, notwithstanding any other permits that may be required."
The second step of the regulatory process will be to secure authorisation for the construction of the project. Berkeley said it is "well advanced" in the preparation of its application for that authorisation, which will be submitted "shortly".
Berkeley shares were up 1.5% to 16.50 pence per share on Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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