czech clarification

From my Czech 'friends ' with all good wishes

62% Czechs support nuclear fuel development - but noone wants a mine or reactor or a waste dump int heir backyard. Sound familiar????? A

NTERVIEW: Australian miner Uran Ltd. seeks Czech clarification on uranium mining - CEO

"this should be announced somehow! "

By Brian Kenety

PRAGUE. FEBRUARY 8. INTERFAX CENTRAL EUROPE – Australian uranium miner Uran Limited last week met with key members of the Czech Parliament as part of its stepped up effort to lobby the government to clearly define its stance on the industry, Uran's managing director Kate Hobbs told Interfax in an interview.

"The Czech Ministry of Environment is currently taking the view that the country's Raw Materials Policy prevents uranium exploration and mining," Hobbes said. "Our legal review – and our discussions with the Ministry of Industry and Trade – indicate [the policy] doesn't even mention exploration, and we don't believe that it prevents mining of uranium."

Hobbs said she and Uran's local director last week met with parliamentarians to discuss the potential for mining and the within the context of the Academy of Science's final report on the Czech Republic's long-term energy policy needs, due out in June 2008.

The Czech Republic currently mines some 300 tonnes of uranium while Russian state-run nuclear fuel supplier Tvel, contracted to become supplier to Czech state-controlled power utility CEZ's Temelin plant in 2009, estimates it will need some 400 tonnes of uranium per year to meet its contract. Tvel already supplies fuel to CEZ's Dukovany plant.

"The Czech Republic's mine at Rozna is the only operating uranium mine in the European Union and the only in Europe, other than in Ukraine," Hobbs told Interfax, adding that active exploration by Czech state firm Diamo stopped before 1990. "So I think there is an opportunity for the country to not only be self-sufficient in energy, but make itself a significant provider to other parts of Europe."

Global uranium prices increased exponentially in recent years and in late May 2007 Diamo launched extensive exploration at the Rozna mine, following governmental approval to prolong domestic uranium mining. Until now, the state company hasn't had money to spend on exploration, or even maintenance and upgrades, for at least 10 years, Hobbs said.

"We were talking to them about some kind of joint undertaking [and] invited to make an offer," Hobbs said. "Then it became a political issue and the Ministry [of Industry and Trade] announced they would do it themselves. But they did also send us a letter saying that if they involved [another company] we would be the preferred partner [to develop the Rozna mine]."

Hobbs said that currently about 40% of the world's demand for uranium comes from reprocessing, particularly of old nuclear warheads. "That means there's a 40% shortfall and the competition to acquire uranium is absolutely intense – from China, the United States, France – all these countries that use nuclear power," Hobbs told Interfax. "So, the Czech Republic, to ensure its own energy security needs to look very hard at trying to source most, or all of its uranium supplies, internally."

In January, the Perth-based uranium miner lodged five new applications for exploration permits in the Czech Republic through its new Czech subsidiary Urania Mining, after having last year lost appeals for a uranium-survey license lodged by a Czech geological partner firm, Timex Zdice.

"If the permits are not granted to us, I have no doubt whatsoever that other companies – and countries – will seek to acquire them," Hobbs said. "Given the country's significant uranium sources […] I wouldn't be surprised if there were government-to-government approaches, and I'm not sure anyone in this country would favor seeing further Russian exploitation of uranium resources."

According to Uran Limited's fourth quarter 2007 report, the company is also pursuing advanced projects and mines in Ukraine, Kazakhstan and Uzbekistan.