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Berkeley Energia orders first equipment for uranium mine build

The proceeds from its recent share placing have allowed it to order primary and secondary crushers from the engineering and tooling giant Sandvik.
Berkeley Energia orders first equipment for uranium mine build
The company is ordering crushers from Sandvik

The successful completion of a US$30mln equity fundraiser means the construction phase at Berkeley Energia PLC’s (LON:BKY, ASX:BKY) Salamanca uranium project will begin early in the New Year.

For the proceeds from the share placing have allowed it to order primary and secondary crushers from the engineering and tooling giant Sandvik.

It is a move that Berkeley says accelerates development of the mine, which is slated to go into production in 2018.

The cost of the equipment, meanwhile, is more than 20% below estimates contained in the company’s definitive feasibility study.

"The ordering of the crushing circuits from Sandvik, following the successful equity financing completed in December, brings forward the commencement of construction of the processing plant by several months,” said chief executive Paul Atherley.

“The lower costs and shorter lead time associated with this key phase of construction moves Berkeley closer to its goal of becoming one of the world's lowest cost uranium producers, reliably supplying long term customers from the heart of the European Union."

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