Berkeley Resources secures mining license for Retortillo deposit in Spain

23 April 2014 (Last Updated April 23rd, 2014 18:30)

Uranium exploration and development company Berkeley Resources has secured a mining license for Retortillo from the Regional Government of Castilla and León.

Uranium exploration and development company Berkeley Resources has secured a mining license for Retortillo from the Regional Government of Castilla and León.

The Retortillo deposit is 100%-owned by Berkeley and forms part of the company's flagship Salamanca project in Spain.

This is the company's first resource that is scheduled to commence production.

The mining license is valid for an initial period of 30 years and may be renewed for two additional periods of 30 years.

The project covers 25.2km² and includes the entire area containing the Retortillo mineral resource estimate.

Following the grant of the mining licence, the approval processes associated with other key permits may now be finalised, including the initial authorisation of the process plant as a radioactive facility.

Berkeley Resources noted that this milestone follows the completion of a number of studies and technical review sessions with relevant government agencies.

The grant of the Retortillo mining licence will help in the development of the Salamanca project.

This permit also follows the completion of the pre-feasibility study, which focused on the integrated development of the Retortillo and Alameda deposits and was said to have the potential to support a significant scale, long-life, low-cost uranium operation, the company added.

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