-1.8 C
Belgrade
Supported byspot_img
spot_img

Berkeley Energia initiates $1 billion arbitration against Spain over Retortillo uranium project dispute

Member of Europium Groupspot_img
Supported byspot_img

Berkeley Energia, facing setbacks with its Retortillo uranium project in Spain, has escalated its dispute by initiating arbitration proceedings under the Energy Charter Treaty (ECT). Seeking $1 billion in damages, the company’s subsidiary, Berkeley Exploration Limited (BEL), filed a Request for Arbitration at the International Centre for Settlement of Investment Disputes (ICSID).

The controversy revolves around Spain’s denial of final approval for the Retortillo project, despite initial clearance in 2013. Rejected twice, in 2021 and 2023, by Spain’s Energy Ministry, Berkeley alleges breaches of ECT provisions by the Spanish government. Attempts at negotiation have reportedly been unfruitful, prompting BEL to pursue legal action to resolve the impasse.

While committed to the Salamanca project, Berkeley emphasizes its willingness to engage in constructive dialogue with Spanish authorities to seek a mutually agreeable resolution on permitting issues, expressing hope for future discussions.

Supported byElevatePR Digital

Related News

India set to decide on import restrictions for metallurgical coke

India is set to make a decision soon on whether to implement import restrictions on metallurgical coke, a crucial ingredient in steelmaking. According to...

AMMC targets major production milestones by 2030 with ongoing development projects

Almalyk Mining and Metallurgical Combine (AMMC) has set ambitious production goals for 2030, aiming to achieve annual output of 500,000 tons of copper, 50...

Kazatomprom partners with Jordan uranium mining company on joint uranium exploration and extraction

Kazatomprom, Kazakhstan's national atomic company, has entered into a collaboration with Jordan Uranium Mining Company (JUMCO) to jointly explore and extract uranium in Jordan....

Saudi Arabia boosts mining sector to secure global mineral supply and support clean energy transition

As part of Saudi Arabia’s Vision 2030 initiative, the country is making significant strides toward creating a sustainable economy driven by clean energy. To...
Supported by
Supported by
Supported by
error: Content is protected !!