Berkeley Energia loss widens as arbitration expenses mount

Berkeley Energia Ltd on Friday reported a widened loss due to increased foreign exchange losses and arbitration expenses.

The clean energy company, focused on bringing the Salamanca project in western Spain into production, said its pretax loss was AUD9.4 million, around £5.0 million, in the financial year ended June 30, widened from AUD4.7 million a year earlier.

Arbitration expenses jumped to AUD4.7 million from AUD2.2 million as Berkeley’s dispute with Spain over permitting delays for its Salamanca uranium project continued. Berkeley is seeking USD1.25 billion in compensation.

In May 2024, Berkeley initiated arbitration proceedings against the Kingdom of Spain.

Berkeley continues to seek USD1.25 billion in relation to what it claims is Spain’s unlawful refusal to grant key approvals needed to develop its Salamanca uranium project, with rising costs negatively impacting the company’s bottom line.

Berkeley reported a foreign exchange loss of AUD3.4 million, widened from AUD888,000 a year earlier.

Arbitration expenses jumped to AUD4.7 million from AUD2.2 million as Berkeley’s dispute with Spain over permitting delays for its Salamanca uranium project continued. Berkeley is seeking USD1.25 billion in compensation.

Interest income fell to AUD2.1 million from AUD3.0 million, which Berkeley said was due to a decrease in interest rates from 3.6% to 2.9%.

Looking ahead, Berkeley Energia said its focus is to secure the approvals needed to begin construction and production at its Salamanca uranium mine in Spain, with the aim of creating long-term shareholder value.

The company will continue its international arbitration against Spain, explore its Conchas project, and diversify into battery and critical metals in Spain. It will also assess other opportunities in the resources sector.

Shares in Berkeley were up 4.0% at 26.00 pence on Friday morning in London.

Copyright 2026 Alliance News Ltd. All Rights Reserved.