Under the terms stipulated in the agreement, the company will develop the uranium deposit as an environmentally sustainable and commercially viable project in compliance with the Slovak Republic’s National Energy Strategy.
EUU is currently undertaking ongoing feasibility study and environmental impact assessment at the deposit, for which the company holds the exploration license.
An earlier preliminary feasibility study completed by Tetra Tech demonstrated the project’s viability as one of the lowest cost underground uranium mines.
Commenting on the project, EUU president and CEO Dorian Nicol stated that the miner expects a positive outcome from the ongoing assessment, benefiting the economy of the Kosice region in eastern Slovakia.
The Ministry has also agreed to support the project with reasonable use of domestic energy minerals, while collaborating with EUU to produce uranium for the benefit of the country’s energy future.
