Berkeley Energia has filed a US$1.25 billion claim against Spain for compensation over the blocked Salamanca uranium project.
Berkeley said its unit Berkeley Exploration filed the claim with the International Centre for Settlement of Investment Disputes (ICSID) in Washington DC as part of the company’s ongoing international arbitration proceedings.
The claim alleges that Spain’s actions against the company’s Spanish subsidiary, Berkeley Mineral España and the Salamanca project have violated multiple provisions of the Energy Charter Treaty.
Berkeley initially filed a request for arbitration in May 2024 to seek US$1 billion in damages from the Spanish government after Spain’s Energy Ministry refused to give it final approval for the Salamanca project.
Spain has until July to respond to the memorial of claim, or until October to submit a memorial on jurisdiction, if the ICSID tribunal orders that issues of jurisdiction be heard.
Berkeley said it is still committed to the Salamanca project and continues to be open to a constructive dialogue with the Spanish government.
The company said it was ready to collaborate with regulators to find an amicable resolution to the permitting situation and hoped discussions could resume in the near term.
