Berkely Energy has revealed it received more than 18,000 applications for the first 200 jobs at its Salamanca uranium development project in Spain.
The project will be established in a rural community hard-hit by inter-generational unemployment the company said.
Berkeley said it expects to publish the pre-feasibility study in December with a target commencement date is mid-2016.
A recent resource upgrade boosted the deposit to 89.5mln pounds of U3O8 (uranium), of which 31.4mln pounds lies in the Zona 7 target.
The Zona 7 deposit is located within 10 kilometres of the approved location of the proposed processing plant.
“Zona 7 deposit is expected to improve the economics of the Salamanca project, even at current uranium prices, by significantly increasing the mine life, the production rates and by reducing the operating costs from the levels previously reported,” Berkeley said.
“The deposit is expected to fundamentally improve the economics of the Salamanca project, even at current uranium prices, by significantly increasing the mine life, the production rates and by reducing the operating costs from the levels previously reported,” it added.
Early indications from the study, which is expected to be published in the December quarter, show that the project will have lower capital costs than previously thought, with operating costs also expected to be lower.
The company has received a number of approaches from potential financiers which are now being advanced.
Recommended for you
