Salamanca Operations Update (9434Q)
27 Ottobre 2011 - 10:01AM
UK Regulatory
TIDMBKY
RNS Number : 9434Q
Berkeley Resources Limited
27 October 2011
27 October 2011
Co-Operation Agreement signed between Berkeley and the
municipalities of Retortillo and Villavieja de Yeltes
Berkeley Resources announces that on October 26th, 2011,
Berkeley and the municipalities of Retortillo and Villavieja de
Yeltes, within the Salamanca Province, have signed a co-operation
agreement for the exploitation of the uranium deposits located in
the municipalities of Retortillo and Villavieja de Yeltes.
As part of the agreement, the municipalities of Retortillo and
Villavieja de Yeltes undertake to actively contribute throughout
the necessary administrative procedures required for the project to
achieve both licensing and permitting.
Berkeley commits to contribute to the economic and social
development of the municipalities, as well as by contributing to
the budget of the abovementioned municipalities so that they might
carry out investments that would bring direct benefits to the
community. Berkeley's contributions include, but are not limited
to:
- Contributing to the municipal budget of the municipalities of
Retortillo and Villavieja, with an amount which includes an
annually paid production cannon.
- Giving preference in hiring, in the first instance, personnel
from Retortillo and Villavieja de Yeltes.
- To build the necessary convenient bypasses to avoid the coming
and going of equipment and personnel through the centre of towns.
These accesses will be left to benefit the municipality at the end
of the mining operations.
- Provide for the installation of a mobile phone system and
broadband internet, extending the coverage to the villages of
Retortillo and Villavieja.
Berkeley expects that the exploitation of the Retortillo and
Santidad deposits will create 150 - 200 direct jobs (including
permanent contractors).
Berkeley has also requested the necessary permits to transfer
its current offices, as well as its technical and administrative
staff, to Retortillo. For that reason, on October, 14th. 2011 the
company submitted the corresponding licensing documents to the
Municipality of Retortillo.
With the permitting process now underway, Berkeley forecast that
project construction will commence during 2013.
Berkeley Resources Managing Director, Brendan James said "This
agreement is a critical step in progressing the Salamanca 1 uranium
project through the permitting phase, and into production, and
demonstrates all stakeholders commitment to the project.
Importantly it also provides Berkeley firmer timelines through this
process."
Enquiries -
Managing Director: Brendan James Tel: +34 923 193 903
RBC Capital Markets: Martin Eales / Daniel Conti Tel: +44 20 7653 4000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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