Moscow: Russia has ratified
inter-governmental agreement with Mongolia for the creation of
a joint venture in the land-locked country for the uranium
mining and processing, according to the Kremlin.
The original agreement was signed in 2009 by Russia`s
State Corporation `Rosatom` Sergei Kiriyenko with his
Mongolian counterpart to set up a joint uranium mining company
Dordon Uran for uranium mining at the deposits discovered by
the Soviet geologists in 1970s.
Dordon Uran is expected to produce 2,000 tons
annually. the JV would be focusing on the Dornod deposit and
the East Gobi fields in Mongolia.
Terms and conditions for the company were agreed
between Russian Prime Minister Vladimir Putin and his
Mongolian counterpart Sukhbaataryn Batbold in December.
According to RIA Novosti the Russian-Mongolian uranium
JV to be setup by the mining arm of Rosatom - ARMZ and
Mongolian Monatom Company will be involved in the full
production cycle from mining to processing of nuclear fuel and