Salamanca Overview
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- Figure 1 - Salamanca Uranium Project
The Salamanca Uranium Project incorporates the State Reserves, including the Águila (Sageras, Palacios and Majuelos), Alameda (Alameda North and South) and Villar Areas,and Berkeley's Retortillo deposits and the Quercus uranium processing plant.
Following shareholder approval in January 2009, Berkeley entered a Co-operation Agreement with ENUSA Industrias Avanzadas S.A. (ENUSA) pursuant to which Berkeley will undertake a Feasibility Study with a view to re-commencing uranium mining based on ENUSA and Berkeley's assets in Salamanca Province, Spain.
Berkeley will have the right to acquire up to 90% of ENUSA's uranium mining and exploration assets, which include State Reserve permits and access to ENUSA's Quercus uranium processing plant (in its present condition), which was previously permitted to produce up to 2.1 Mlbs (0.95 Kt) pa of U3O8.
Berkeley commenced a feasibility study on the Salamanca Uranium Project in May 2009 following approval of the Co-operation Agreement with ENUSA and payment of a deposit of €5m for the ENUSA assets.
Please refer to the stock exchange announcement on 10 December 2008 for full details of the ENUSA Co-operation Agreement and the ENUSA assets (PDF, 784KB).
The partnership is the ideal way to study the potential for developing both companies' assets as a regional uranium mining project. Recommencing uranium mining in Salamanca Province will provide Spain with enhanced energy security for the life of its nuclear fleet.
Feasibility Study Process
Berkeley commenced the Feasibility Study process on the Salamanca Uranium Project on 26 May 2009. The Feasibility Study is expected to take up to 18 months.
The Feasibility Study will focus initially on mining the Águila deposits for processing through the Quercus Plant utilising heap leaching or dynamic leaching, or a combination of the two. The Study will also address the potential for subsequently sourcing additional feed for the plant from nearby deposits.
Initial work has focussed on assessment of the scope and quality of the historical data and its potential to contribute to the feasibility study process, particularly in the resources, mining and processing fields.
The historical data will also lead to a new program of near mine exploration during the 18 months of the Project, with the aim of defining additional resources with the potential to extend mine life, or increase production.
Environmental responsibility, radiological protection and community awareness, engagement and support are paramount considerations for the success of Berkeley's Salamanca Uranium Project.