Berkeley Resources (ASX:BKY , LON:BKY) has announced the regional government of Castilla and Leon has issued the mining license for its Retortillo uranium project in Western Spain, close to the border with Portugal. This is another important step for Berkeley as it continues to de-risk its Salamanca uranium project (of which the Retortillo zone was scheduled to be the first zone to go into production).
The mining license is valid for a period of 30 years and can be extended for another 30 years. It comprises the entire Retortillo resource estimate and the approval of the permit was expected, as the exploitation, reclamation and closure plans of the company already were approved earlier.
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Disclosure: The author holds a small long position in Berkeley Resources. Please see our disclaimer for current positions.
