Berkeley Energy uranium mine arbitration hearing set for 2027

The International Centre for Settlement of Investment Disputes (ICSID) has scheduled a jurisdictional hearing for mid-2027 regarding the arbitration initiated by Berkeley Energy against Spain. The dispute concerns the company’s uranium mine project in Retortillo, Salamanca.

Berkeley Energy claims that Spanish government actions against its subsidiary and project violate provisions of the Energy Charter Treaty. The mining group is seeking compensation of approximately $1.25 billion (roughly €1.095 billion). The ICSID process has been divided into two phases: first addressing jurisdictional objections regarding the denial of benefits, followed by the merits of the case and potential damages.

In its annual report to the CNMV, Berkeley Energy expressed a continued commitment to the project and stated it remains open to a constructive dialogue with Spanish authorities to reach an amicable resolution. However, the company noted that arbitration costs doubled during the 2026 fiscal year, reaching approximately $4.7 million AUD, contributing to a net loss of nearly $8.7 million AUD for the period.