Berkeley Energia Limited Berkeley announces further potential cost savings (9757T)
09 7월 2018 - 3:00PM
UK Regulatory
TIDMBKY
RNS Number : 9757T
Berkeley Energia Limited
09 July 2018
BERKELEY ENERGIA LIMITED
NEWS RELEASE | 9 July 2018 | LSE/ASX: BKY
Berkeley Energia announces further potential cost savings
Berkeley Energia Limited ("Berkeley" or "the Company") is
pleased to announce that the capital cost review initiated by the
Company has identified a number of opportunities to reduce the
initial capital expenditure required to bring the mine into
production.
Potential savings of up to EUR9 Million (based on the FEED
estimate as announced on 6 July 2017) arise from:
-- optimization of plant capacities within the overall process design,
-- outsourcing of peripheral infrastructure, and
-- reducing initial throughput for production from the
Retortillo deposit and right-sizing of the associated plant.
The proposed modifications remain consistent with the future
expansion of production from Zona 7 and Alameda.
The initiatives proposed will be taken forward to detailed
engineering in parallel with the commencement of planned on-site
construction activity, including site preparation, bulk earthworks
and initial civil construction works.
Managing Director & CEO, Paul Atherley, said:
"The review has identified potential up-front cost savings at
the Salamanca mine which capitalises on the well-established EU
infrastructure.
There has been uranium mining in this district for over 40 years
and we are immensely proud of the work by our Spanish team who are
developing the project to the world's highest environmental
standards.
Importantly residents from the surrounding villages will benefit
from the creation of over 2,500 direct and indirect jobs within
their community.
Over 120,000 people have left the region in the past five years
and approximately another 21,000, mainly young people, are expected
to leave this year.
Our promise to preferentially hire from the region and training
villagers are two of the ways we are helping to rejuvenate an area
badly hit by long term depopulation and youth unemployment.
There is strong local support for our mine from nearby
residents, over 25% of whom have applied for jobs with us, and from
Salamanca's business community, who turned out in force with over
200 people attending our recent update evening at the historic
Colegio Arzobispo Fonseca.
We put our commitment to the local community at the forefront of
everything we do, from the local cafés that welcome our workers for
their lunches to the local suppliers that are vital to our
operations; we want to see the success of this major investment
support the success of our neighbours.
Looking forward the EUR250 million investment by London Main
Board listed Berkeley will be an important post Brexit bilateral
trade deal.
Our forthcoming listing on the Spanish stock exchange deepens
our UK Spanish relationship and paves the way for Spanish
institutional investors to own a part of Spain's long standing
mining traditions where Rio Tinto was arguably the birthplace of
modern mining as we know it today."
For further information please contact:
Berkeley Energia Limited +44 20 3903 1930
Paul Atherley, Managing Director & CEO info@berkeleyenergia.com
Sean Wade, Chief Commercial Officer
Berenberg (Joint Broker) +44 20 3207 7800
Matthew Armitt
James Brooks
Tamesis Partners (Joint Broker) +44 20 3882 2868
Charles Bendon
Richard Greenfield
Forward Looking Statements
Statements regarding plans with respect to Berkeley's mineral
properties are forward-looking statements. There can be no
assurance that Berkeley's plans for development of its mineral
properties will proceed as currently expected. There can also be no
assurance that Berkeley will be able to confirm the presence of
additional mineral deposits, that any mineralisation will prove to
be economic or that a mine will successfully be developed on any of
Berkeley mineral properties. These forward-looking statements are
based on Berkeley's expectations and beliefs concerning future
events. Forward looking statements are necessarily subject to
risks, uncertainties and other factors, many of which are outside
the control of Berkeley, which could cause actual results to differ
materially from such statements. Berkeley makes no undertaking to
subsequently update or revise the forward-looking statements made
in this announcement, to reflect the circumstances or events after
the date of that announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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