Development of the $100 million Salamanca uranium project in west-central Spain began in August, owner Berkeley Resources (AIM:BKY) confirmed in an Oct. 11 news release. Work has been initially limited to supporting infrastructure, but “material procurement has begun and main construction will start early next year.”
The firm added that after a decade and $60 million of investment, infrastructure development is “well underway” (FCW #678, Sept. 29). Berkeley highlighted that its investment will help rejuvenate a local community severely impacted by unemployment with over 450 new jobs and an estimated 2,700 indirect jobs, while injecting new business opportunities into local firms and suppliers, many of whom have been struggling due to long term under investment in the area.
