State electricity company MVM and its subsidiary the Paks nuclear power plant will have small stakes in the joint venture.

A decision on government subsidy for the project is expected by the end of the year.

Wildhorse agreed in February to reinforce its partnership and form a similar joint venture with Mecsek-Oko and Mecsekerc.

Under the joint venture, the parties agreed to merge Wildhorse’s concession on 42.9km2 with a 19.6km2 site held by Mecsek-Oko.

Source: Hungary Around the Clock

This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.Cabinet endorses joint venture with uranium miner Wildhorse

The cabinet has agreed to enter into a joint venture with Australian mining company Wildhorse Energy to assess the viability of reviving uranium mining in the Mecsek hills in the next six months.

The joint venture company will be set up by Wildhorse, which already has ongoing projects in the region near Pecs, along with state owned rehabilitation company Mecsek-Oko and mining company Mecsekerc.

State electricity company MVM and its subsidiary the Paks nuclear power plant will have small stakes in the joint venture.

A decision on government subsidy for the project is expected by the end of the year.

Wildhorse agreed in February to reinforce its partnership and form a similar joint venture with Mecsek-Oko and Mecsekerc.

Under the joint venture, the parties agreed to merge Wildhorse’s concession on 42.9km2 with a 19.6km2 site held by Mecsek-Oko.

Source: Hungary Around the Clock

This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.

Photo: Mudra László [origo]