Berkeley Energia files $1.25B claim from Spain over uranium project dispute

Australia’s Berkeley Energia said on Friday it has filed a memorial of claim for about $1.25 billion from Spain at the World Bank’s arbitration tribunal, an increase from a previous request, over the blocked Salamanca uranium project.

The mining group said its unit Berkeley Exploration filed the claim at the International Centre for Settlement of Investment Disputes, and has included factual background on the project and the dispute, key witness statements, assessment of damages and other reports.

The company had initially filed in May 2024 a request for an arbitration to seek $1 billion in damages from the Spanish government after it refused to give final approval for its uranium mine project.

The project located near Salamanca received preliminary approval in 2013, but Spain’s Energy Ministry refused final approval first in 2021 and again in 2023.

Berkeley had accused the government in 2024 of infringing on its rights under the Energy Charter Treaty, an international agreement designed to promote energy security through a more open and competitive energy market.

Spain has until July 2026 to respond to the memorial of claim, the company said in Friday’s statement.

(By Sherin Sunny; Editing by Vijay Kishore)