logo-loader
viewBerkeley Energia Ltd

Berkeley Energia highlights higher uranium prices as mine permitting continues to progress

“Analysts expect further tightening of market conditions as the current structural supply deficit in the global uranium market is exacerbated by these and possible other COVID-19 supply disruptions”

Berkeley Energia Ltd - Berkeley Energia highlights higher uranium prices as mine permitting continues to progress

Berkeley Energia PLC (LON:BKY) has highlighted the strengthening of uranium prices amidst the coronavirus (COVID-19) pandemic turmoil.

In a quarterly update, the Spanish mine developer noted that the uranium price is up by around 30% in the year to date as firms such as Kazatomprom and Cameco have flagged supply disruption.

The uncertainty has seen the uranium spot price rise to US$32.50 per pound, the company added.

READ: Berkeley Energia progress and recruitment in Spain

“Analysts expect further tightening of market conditions as the current structural supply deficit in the global uranium market is exacerbated by these and possible other COVID-19 supply disruptions,” Berkeley Energia said.

Progress at the group's uranium mine project is presently confined to the desktop. The company said it adopted a 'work from home' policy a week prior to the Spanish government declaring its 'State of Alarm' and lockdown.

The company noted that all of its team in Spain is safe and well. It added that the Spanish Administration is still functioning and the company has maintained ongoing communication with the relevant officials to ensure progress continues in its permitting processes.

In March, the group said, meetings took place with the company, the country’s Nuclear Safety Council (NSC), the Regional Government of Castilla y Leon, and the Municipality of Retortillo.

Also last month, the company formally submitted updated official documentation to the NSC, and the next steps will see the NSC technical team complete a report for ratification by the NSC board.

The group noted that the regional environmental authorities (Ministry of Environment and Development of the Regional Government of Castilla y León informed the Municipality of Retortillo) have communicated to the company that a previously granted authorisation of land use remains fully valid. This allows the Municipality of Retortillo to advance the processing of the company's Urbanism Licence application.

Quick facts: Berkeley Energia Ltd

Price: 15.25 GBX

LSE:BKY
Market: LSE
Market Cap: £39.44 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Berkeley Energia Ltd named herein, including the promotion by the Company of Berkeley Energia Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: FTSE 100 reels from Trump travel ban

Headlines from the Proactive UK newsroom. The FTSE 100 slumped again as traders reacted cautiously to the travel ban between the US and Europe imposed by Donald Trump last night. The blue-chip index opened down 5% at 5581 after Dow Jones shed almost 1,500 points overnight.  Insurance...

on 12/3/20

2 min read