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4-Traders Homepage  >  Equities  >  Mercado Continuo Espanol  >  Iberdrola SA    IBE   ES0144580Y14

Real-time Quote. Real-time Tradegate - 09/29 10:03:36 pm
6.035 EUR   +0.17%
04:10p Berkeley Energia - Amec Foster Wheeler appointed to Salamanca min..
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Berkeley Energia - Amec Foster Wheeler appointed to Salamanca mine

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09/29/2016 | 04:10pm CEST

Release date- 28092016 - Berkeley Energia is pleased to announce that it has appointed MDM Technical Africa Ltd, a wholly owned subsidiary of the Amec Foster Wheeler Group (LSE: AMFW) to undertake the Front End Engineering and Design for the Salamanca mine.

The FEED is the execution phase of the project during which the overall engineering and process design is translated into equipment procurement packages and awards to specialist subcontractors. The FTSE 250 listed Amec Foster Wheeler is a leading global engineering group with extensive experience in delivering uranium mining and processing solutions. Amec Foster Wheeler's FEED will be based on Berkeley's completed Definitive Feasibility Study with input from a number of Spain's most reputable engineering groups including Madrid IBX-35 listed companies Iberdrola (BME: IBE) and OHL (BME: OHL). Initial construction has commenced with re-routing of the existing electrical power line to service the project and a four kilometre realignment of an existing road to allow for the commencement of mining of the Retortillo pit. The Salamanca mine is scheduled to start production in 2018.

Managing Director Paul Atherley commented: 'Amec Foster Wheeler will play a crucial role in the successful development of the low cost Salamanca mine, which is the only uranium mine in the world currently in construction.'

Contact:

Anna Michniewicz

Tel: +44 207 466 5000

Berkeley Energia's Salamanca project

The Salamanca project, located in Western Spain, is the only major uranium mine in the world currently in construction. The independent DFS published in July 2016 by MDM Engineering (part of AMEC Foster Wheeler) demonstrates that the project, with a NPV of over US$530m, will produce 4.4m lbs per annum of U3O8 at C1 cash costs of US$15.39/lb, making it one if the world's lowest cost and a top ten global producer of uranium, supplying the world's leading utilities with fuel for base load clean energy.

First production is anticipated to commence in 2018. Berkeley has invested over US$60 million in the Salamanca project to date and has recently commenced infrastructure development. The investment will be a major boost for the local community generating 450 direct jobs and 2000 indirect jobs in a region badly hit by long term unemployment. Further information is available on www.berkeleyenergia.com.

Amec Foster Wheeler

Amec Foster Wheeler (www.amecfw.com) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors. Employing around 36,000 people in more than 55 countries and with 2015 revenues of GBP5.5 billion, the company operates across the oil and gas industry and in the mining, clean energy, power generation, pharma, environment and infrastructure markets. Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.

Forward Looking Statement

Statements regarding plans with respect to Berkeley's mineral properties are forward-looking statements. There can be no assurance that Berkeley's plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that Berkeley will be able to confirm the presence of additional mineral deposits, that any mineralization will prove to be economic or that a mine will successfully be developed on any of Berkeley's mineral properties

(c) 2016 Electronic News Publishing -, source ENP Newswire

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Financials (€)
Sales 2016 32 554 M
EBIT 2016 4 495 M
Net income 2016 2 582 M
Debt 2016 28 469 M
Yield 2016 4,87%
P/E ratio 2016 14,65
P/E ratio 2017 14,42
EV / Sales 2016 2,05x
EV / Sales 2017 1,98x
Capitalization 38 332 M
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Number of Analysts 31
Average target price 6,59 €
Spread / Average Target 9,4%
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José Ignacio Sánchez Galán Chairman & Chief Executive Officer
José Sáinz Armada Chief Financial & Resources Officer
Íñigo Víctor de Oriol Ibarra External Director
Braulio Medel Cámara Independent Director
Samantha Barber Independent Director
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