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Russian-Armenian Uranium JV To Start Prospecting By Late 2008

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  • Russian-Armenian Uranium JV To Start Prospecting By Late 2008

    RUSSIAN-ARMENIAN URANIUM JV TO START PROSPECTING BY LATE 2008

    RIA Novosti
    April 22 2008
    Russia

    MOSCOW, April 22 (RIA Novosti) - A joint venture established between
    Russia and Armenia plans to start uranium prospecting in the south
    of Armenia by late 2008, the venture's Russian participant said
    on Tuesday.

    Atomredmetzoloto, which manages all Russian uranium-producing assets,
    and the Armenian Environmental Ministry, signed on Tuesday in Yerevan
    an agreement on establishing a joint venture to prospect and mine
    uranium and other mineral resources on the territory of the South
    Caucasus state.

    The JV agreement is the first stage in the implementation of a
    cooperation memorandum signed in February between the Russian nuclear
    corporation Rosatom and the Armenian environmental ministry.

    Atomredmetzoloto is a subsidiary of Rosatom.

    Armenian uranium reserves are estimated at 30,000-60,000 metric tons.
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