Berkeley Energia recently listed on the Spanish stock exchange and became the only listed company in the birthplace of Rio Tinto and the birthplace of modern mining.
The listing follows the successful US$120 million funding by the Oman Sovereign Wealth Fund for the development pf the Salamanca project located in an historic mining area in western Spain, about three hours west of Madrid.
The project will create over 2500 jobs in an area that has is suffering long term unemployment and depopulation. Over 120,000 people, mainly young people, have left the region over the past few years looking for work and nearly 100 towns and villages have recorded zero birthrate.
Berkeley’s €250 million investment will generate measurable social and environmental benefits rejuvenating the local villages that have lost 75% of their population in recent times.
The EU currently generates 25% of its electricity from nuclear power and the mine will make a significant contribution to the security of supply of Europe’s zero carbon energy needs, where Euratom recently rated “lack of investment in new mines” as the number one risk facing European utilities.