Investors were steering well clear of uranium miner Berkeley Resources after the company said it is reviewing its current development, timetable and expenditure in the wake of the Fukishima nuclear power plant disaster in Japan.

As a result it is now anticipated that the feasibility study for the entire Salamanca uranium project in Spain will be completed by mid-2012, and not by no later than November 2011 as originally envisaged.

ENUSA Industrias Avanzadas and Berkeley have previously agreed to form a joint venture company in which Berkeley will hold 90% of the equity. The two parties have set a target date of 27 May for the formation of the new company after ENUSA has performed some verification procedures on mining prospects.

Formation of the company will trigger a payment of €20m to ENUSA by Berkeley within 30 days.

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