By Anthony O. Goriainoff

Shares in Berkeley Energia Ltd. rose on Friday after the company said that it has taken the first steps to overturn an unfavorable decision by Spain's Nuclear Safety Council.

Shares at 0815 GMT were up 1.50 pence, or 10%. at 16.50 pence.

The uranium-mining company, which is listed in the U.K., Australia and Spain, said the decision pertained to the granting of an Authorization for Construction for its uranium concentrate plant as a radioactive facility at its Salamanca project.

Berkeley said it has submitted a report to supplement its initial application, as well as corresponding arguments addressing the issues raised by the NSC, and that it has requested its reassessment by the NSC. The report includes technical arguments that show the project is compliant with all requirements for NSC II, Berkeley said.

On July 12, the company said that the NSC had issued an unfavorable report against the authorization and that it would defend its position and consider its legal options.

In July 2020, Berkeley said that the NSC had issued a favorable report for the extended authorization of its uranium concentrate plant as a radioactive facility.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

July 23, 2021 04:31 ET (08:31 GMT)

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