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Market Watch | 18 November 2022
Berkeley Energia sends notification of dispute to Spain over uranium plant application
By Joe Hoppe
Berkeley Energia Ltd. said Friday that it has sent a written notification of an investment dispute to the Spanish government following the rejection of its application to construct a uranium-concentrate plant as a radioactive facility at its Salamanca project in November 2021.
The clean energy company said the notification has informed the Prime Minister of Spain and the Ecological Transition and the Demographic Challenge Ministry, or Miteco, of the nature of the dispute and breaches of the Energy Charter Treaty, and proposed prompt negotiations for an amicable solution.
Previously, Berkeley said that the rejection of the facility by Miteco followed an unfavorable report against a grant from the Spanish Nuclear Safety Council in July 2021.
The company said at the time that it had rebutted the assessment and had addressed all of the technical issues raised in the report.
Berkeley said Friday that the written notification was necessary to preserve its rights to initiate international arbitration, but it remains hopeful the dispute can be resolved.
The notification doesn’t comment on the size of any potential damages if the dispute isn’t resolved amicably, it said.