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European Uranium Signs Memorandum of Understanding with Slovak Ministry of Economy
European Uranium Signs Memorandum of Understanding with Slovak Ministry of Economy Vancouver...
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[{"type":"text","content":"\nEuropean Uranium Signs Memorandum of Understanding with Slovak Ministry of Economy\n\nEuropean Uranium Signs Memorandum of Understanding with Slovak Ministry of Economy\nVancouver, British Columbia CANADA, December 20, 2012 /FSC/ - European Uranium Resources Ltd. (EUU - TSX Venture, EUUNF - OTCBB, TGPN - FWB), reports that it has signed a Memorandum of Understanding (MoU) with the Ministry of Economy of the Slovak Republic.  The MoU defines the parameters by which EUU and the Ministry of Economy (the Ministry) will cooperate in advancing the Kuriskova uranium deposit (the Project), on which EUU holds the exploration license, through ongoing feasibility and environmental studies.  A Preliminary Feasibility Study completed by Tetra Tech, Inc. (see news release dated January 30, 2012) indicates that the Kuriskova uranium deposit can be developed as an underground mine using Best Available Technologies with minimal environmental impact and that it could be one of the lowest cost uranium producers in the world.\nSlovakia is the world's third largest per capita user of nuclear energy, with nuclear power providing over 50% of its electricity.  Four nuclear reactors are currently operating at two plants, with two additional reactors under construction.  Slovakia's Prime Minister Robert Fico, elected in March 2012, continues to publicly reinforce the message that nuclear power will be the main energy source in Slovakia in the future.  Slovakia does not currently produce any uranium; Europe's only producing uranium mine is in the Czech Republic.\nKey points of the MoU include:\n* Recognition of the importance of the Kuriskova uranium deposit to future Slovak energy independence.\n* 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.\n* 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.\n* 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.\n...