Salamanca / Uranium

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The world-class uranium project is being developed in a historic mining area located in Salamanca Province in western Spain, 250km west of Madrid.

Stage

Development

Commodity

Uranium

Operator

Berkeley Energia

Location

Spain

Royalty rate and type
1% NSR

Balance sheet classification
Royalty intangible 

What we own 

The Group has a 1% life of mine NSR royalty on the Salamanca uranium project located in Spain and operated by ASX-listed Berkeley Energia Limited (‘Berkeley’). The project consists of four main deposits (Retortillo, Alameda, Zona 7 and Gambuta) and is located in the Salamanca Province, Spain, approximately 250km west of Madrid.

Operation/update

A world-class uranium project in Spain 
•    €90m invested in project over 10+ years 
•    Resource base ~90Mlb s U3O8 (67% M&I) 
•    DFS and FEED completed in 2016–2017 
•    120 previous permits and favourable reports granted at local, regional, federal and EU levels 
•    Final permit required to commence construction (NSC II) rejected in 2021. BKY has appealed decision 
•    Spanish political environment rapidly evolving
 

Key facts

1%

The Group has a 1% life of mine NSR royalty on the Salamanca uranium project located in Spain and operated by ASX-listed Berkeley Energia Limited (‘Berkeley’)

EXTENSION

In July 2020, the Nuclear Safety Council (‘NSC’) issued a favourable report for the extension of the validity of the Initial Authorisation for the uranium concentrate plant as a radioactive facility (‘NSC I’). The NSC I was originally granted in September 2015, with a five-year validity period

PERMIT

In August 2020, the key Urbanism License (‘UL’) was granted by the Municipality of Retortillo. The UL is a land use permit needed for construction works at the Salamanca mine