Russia and Mongolia Ink Uranium Deal

By Joel Scanlon
A joint venture agreement has been signed by Russia and Mongolia to develop the largest untapped uranium field in the world. The uranium mine in Mongolia will be developed with Russian investment in the first stage of the project.

The agreement was signed in Moscow between the Rosatom Corp, ARMZ Uranium Holding and the Mongolian state owned KOO MonAtom. Rosatom Corp is the nuclear power company for Russia and ARMZ Uranium Holding is also a government run Russian company.

The development of this mineral resource has been delayed in part due to political dissonance and in part due to lack of funding. This will no longer be a problem since Russian Prime Minister Vladimir Putin and his visiting Mongolian counterpart Sukhbaatar Batbold have signed on the dotted line.

The Dornod Uranium company has now been formed to start mining uranium. The chief executive of Rosatom Sergei Kiriyenko said that they would be investing $300 million in the first stage of the project. The mine hopes to start producing uranium in 2011.

Russian geologists had explored the region in the 1970s and mining of the ore was in progress by the Priargun Mining Chemicals Association then. The idea of the resumption of mining was triggered in 2009 with the joint venture concept.

Source:www.azomining.com
Share:

0 comments:

Post a Comment

Facebook page

Powered by Blogger.

Categories

Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive

Followers

Live Traffic