Australia’s Berkeley Energia said on Friday it has filed a memorial of claim worth about $1.25 billion against Spain at the World Bank’s arbitration tribunal, escalating its long-running dispute over the stalled Salamanca uranium project.
The company said its subsidiary, Berkeley Exploration, submitted the claim to the International Centre for Settlement of Investment Disputes. The filing includes detailed factual background on the project and the dispute, witness statements, an assessment of damages, and supporting expert reports.
Berkeley initially launched arbitration proceedings in May 2024, seeking $1 billion in damages after the Spanish government declined to grant final approval for the uranium mine. The Salamanca project, located near the city of Salamanca in western Spain, received preliminary approval in 2013. However, Spain’s Energy Ministry refused to issue final approval in 2021 and again in 2023.
In 2024, Berkeley accused Spain of breaching its obligations under the Energy Charter Treaty, an international framework intended to promote energy security through open and competitive energy markets.
Spain now has until July 2026 to submit its response to the memorial of claim, Berkeley said. The announcement weighed on investor sentiment, with Berkeley shares falling as much as 8.8% to A$0.52, broadly in line with weakness across the mining sector, where the sub-index was down 2.8% at the same time.
