European Uranium Resources (TSXV:EUU) has entered into a Memorandum of Understanding (MOU) with the Ministry of Economy of the Slovak Republic. This MOU recognizes the importance of the Kuriskova uranium deposit to future Slovak energy independence. If the Feasibility Study and Environmental Impact Assessment are positive, both parties agree that the Project will be able to advance in conformance with the Slovak Republic’s National Energy Strategy. As well, if the Kuriskova project enters the mining phase, it should be developed in a way which demonstrably increases energy independence of the Slovak Republic, will have positive effects on economic interests of the Slovak Republic and will create new jobs in eastern Slovakia.

As quoted in the press release:

Key points of the MoU include:

  • Recognition of the importance of the Kuriskova uranium deposit to future Slovak energy independence.
  • EUU’s ongoing Feasibility Study and Environmental Impact Assessment will focus on demonstrating that the Kuriskova deposit can be developed as an environmentally sustainable and commercially viable project.
  • EUU and the Ministry agree that if the Feasibility Study and Environmental Impact Assessment are positive, then the Project will be able to advance in conformance with the Slovak Republic’s National Energy Strategy.
  • EUU and the Ministry agree that the Ministry will support reasonable use of domestic energy minerals with the aim to reduce Slovakia’s current dependence on import of such raw materials.
  • EUU and the Ministry will endeavor to find a mechanism for collaboration that will allow uranium production from Kuriskova to be developed for the benefit of Slovakia’s energy future.  This could be a production off-take arrangement, a partnership with a Slovak entity or other mutually agreed arrangements.
  • If the Kuriskova project enters the mining phase, it should be developed in a way which demonstrably increases energy independence of the Slovak Republic, will have positive effects on economic interests of the Slovak Republic and will create new jobs in eastern Slovakia.

European Uranium President and CEO Dorian L. (Dusty) Nicol, said:

The signing of this Memorandum of Understanding with the Slovak Ministry of Economy represents a significant milestone in our advancement of the Kuriskova project.  We are confident that our ongoing Feasibility Study and Environmental Impact Assessment will demonstrate that the project can be permitted and developed in a sustainable way for the benefit of Slovakia’s energy security and the economy of the Kosice region in eastern Slovakia.  We will continue to advance the project in a way that aligns the interests of EUU’s shareholders with those of the Slovak Republic and of eastern Slovakia.

Click here to read the European Uranium (TSXV:EUU) press release
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