Berkeley claims $1.25bn from Spain over Salamanca project
Dual-listed Berkeley Energia has filed a $1.25-billion compensation claim against Spain at the International Centre for Settlement of Investment Disputes (ICSID) in Washington DC, as part of its ongoing arbitration proceedings with the Spanish government.
The company said its wholly owned subsidiary, Berkeley Exploration Limited, has submitted a memorial of claim alleging that Spain’s actions against its Spanish subsidiary, Berkeley Minera España, and the Salamanca uranium project, violated multiple provisions of the Energy Charter Treaty.
Berkeley has been in dispute with Spain over permitting and regulatory restrictions affecting the Salamanca project, which it says have undermined its investment.
The memorial of claim sets out the factual background to the project and the dispute, details the legal basis for the case, and includes key witness statements and reports from independent technical, regulatory and damages experts.
Spain has until July 2026 to respond to the filing, or until October 2026 if the ICSID tribunal orders that jurisdictional issues be considered separately.
Despite the arbitration process, Berkeley said it remained committed to the Salamanca project and was open to constructive dialogue with Spanish authorities.
The company said it was ready to collaborate with regulators to seek an amicable resolution to the permitting situation and hoped discussions could resume in the near term.
Berkeley said it would continue to provide updates on the arbitration proceedings as required.
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