TIDMBKY
RNS Number : 8682K
Berkeley Energia Limited
27 September 2016
BERKELEY ENERGIA LIMITED
NEWS RELEASE | 27 September 2016 | AIM/ASX: BKY
Amec Foster Wheeler appointed to Salamanca mine
Berkeley Energia is pleased to announce that it has appointed
MDM Technical Africa (Pty) Ltd, a wholly owned subsidiary of the
Amec Foster Wheeler Group (LSE: AMFW) to undertake the Front End
Engineering and Design (FEED) for the Salamanca mine.
The FEED is the execution phase of the project during which the
overall engineering and process design is translated into equipment
procurement packages and awards to specialist subcontractors.
The FTSE 250 listed Amec Foster Wheeler is a leading global
engineering group with extensive experience in delivering uranium
mining and processing solutions.
Amec Foster Wheeler's FEED will be based on Berkeley's completed
Definitive Feasibility Study with input from a number of Spain's
most reputable engineering groups including Madrid IBX-35 listed
companies Iberdrola (BME: IBE) and OHL (BME: OHL).
Initial construction has commenced with re-routing of the
existing electrical power line to service the project and a four
kilometre realignment of an existing road to allow for the
commencement of mining of the Retortillo pit. The Salamanca mine is
scheduled to start production in 2018.
Managing Director Paul Atherley commented:
"Amec Foster Wheeler will play a crucial role in the successful
development of the low cost Salamanca mine, which is the only
uranium mine in the world currently in construction."
For further information please contact:
+44 20 7478
Berkeley Energia Limited 3900
Paul Atherley, Managing Director info@berkeleyenergia.com
Hugo Schumann, Corporate Manager
WH Ireland Limited (Nominated Adviser +44 20 7220
and Joint Broker) 1666
Paul Shackleton
Nick Prowting
Jay Ashfield
+44 20 7418
Peel Hunt LLP (Joint Broker) 8900
Matthew Armitt
Ross Allister
Chris Burrows
+44 207 466
Buchanan 5000
Bobby Morse, Senior Partner BKY@buchanan.uk.com
Anna Michniewicz, Account Director
Further background:
Berkeley Energia's Salamanca project
The Salamanca project, located in Western Spain, is the only
major uranium mine in the world currently in construction. The
independent DFS published in July 2016 by MDM Engineering (part of
AMEC Foster Wheeler) demonstrates that the project, with a NPV of
over US$530m, will produce 4.4m lbs per annum of U(3) O(8) at C1
cash costs of US$15.39/lb, making it one if the world's lowest cost
and a top ten global producer of uranium, supplying the world's
leading utilities with fuel for base load clean energy. First
production is anticipated to commence in 2018.
Berkeley has invested over US$60 million in the Salamanca
project to date and has recently commenced infrastructure
development.
The investment will be a major boost for the local community
generating 450 direct jobs and 2000 indirect jobs in a region badly
hit by long term unemployment.
Further information is available on www.berkeleyenergia.com.
Amec Foster Wheeler
Amec Foster Wheeler (www.amecfw.com) designs, delivers and
maintains strategic and complex assets for its customers across the
global energy and related sectors.
Employing around 36,000 people in more than 55 countries and
with 2015 revenues of GBP5.5 billion, the company operates across
the oil and gas industry and in the mining, clean energy, power
generation, pharma, environment and infrastructure markets.
Amec Foster Wheeler shares are publicly traded on the London
Stock Exchange and its American Depositary Shares are traded on the
New York Stock Exchange. Both trade under the ticker AMFW.
Competent Persons Statement
The information in this announcement that relates to the
Definitive Feasibility Study, Mineral Resources for Zona 7, Ore
Reserve Estimates, Mining, Uranium Preparation, Infrastructure,
Production Targets and Cost Estimation is extracted from the
announcement entitled 'Study confirms the Salamanca project as one
of the world's lowest cost uranium producers' dated 14 July 2016,
which is available to view on Berkeley's website at
www.berkeleyenergia.com.
Berkeley Energia Limited (Berkeley) confirms that: a) it is not
aware of any new information or data that materially affects the
information included in the original announcement; b) all material
assumptions and technical parameters underpinning the Mineral
Resources, Ore Reserve Estimate, Production Target, and related
forecast financial information derived from the Production Target
included in the original announcement continue to apply and have
not materially changed; and c) the form and context in which the
relevant Competent Persons' findings are presented in this
announcement have not been materially modified from the original
announcements.
The information in the original announcement that relates to the
Definitive Feasibility Study is based on, and fairly represents,
information compiled or reviewed by Mr. Jeffrey Peter Stevens, a
Competent Person who is a Member of The Southern African Institute
of Mining & Metallurgy, a 'Recognised Professional
Organisation' (RPO) included in a list posted on the ASX website
from time to time. Mr. Stevens is employed by MDM Engineering (part
of the Amec Foster Wheeler Group). Mr. Stevens has sufficient
experience that is relevant to the style of mineralization and type
of deposit under consideration and to the activity being undertaken
to qualify as a Competent Person as defined in the 2012 Edition of
the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves'.
The information in the original announcement that relates to the
Ore Reserve Estimates, Mining, Uranium Preparation, Infrastructure,
Production Targets and Cost Estimation is based on, and fairly
represents, information compiled or reviewed by Mr. Andrew David
Pooley, a Competent Person who is a Member of The Southern African
Institute of Mining and Metallurgy', a Recognised Professional
Organisation' (RPO) included in a list posted on the ASX website
from time to time. Mr. Pooley is employed by Bara Consulting (Pty)
Ltd. Mr. Pooley has sufficient experience that is relevant to the
style of mineralization and type of deposit under consideration and
to the activity being undertaken to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'.
Forward Looking Statement
Statements regarding plans with respect to Berkeley's mineral
properties are forward-looking statements. There can be no
assurance that Berkeley's plans for development of its mineral
properties will proceed as currently expected. There can also be no
assurance that Berkeley will be able to confirm the presence of
additional mineral deposits, that any mineralisation will prove to
be economic or that a mine will successfully be developed on any of
Berkeley's mineral properties.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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