Russian uranium production up 7% in 2007

25 March 2008

[Rosatom, 19 March] AtomRedMetZoloto (ARMZ), a subsidiary of Russian state corporation AtomEnergoProm, reported that uranium production by companies it manages totalled 3413 tonnes in 2007. This represents a 7% increase from the 3190 tonnes produced in 2006. Most of the uranium (3307 tonnes) was mined by Priargun Mining Chemical Combine in the Zabaikalye region, while the Dalur company in the Kurgan region mined 350 tonnes and the Khiagda company in the Buriatia region mined 26 tonnes. ARMZ plans to produce 3880 tonnes in 2008. Of its two Kazakh-based uranium joint venture companies, Zarechny and Aqbastau, only the Zarechny operation produced uranium in 2007. The joint venture produced 114 tonnes in 2007 and plans to produce 300 tonnes in 2008. ARMZ said that if the Kazakh production is included, the output of 3527 tonnes in 2007 moves Russia up from the fifth largest uranium producing country to the fourth, while ARMZ would be the world's fifth largest uranium producing company. The company plans to invest 9.5 billion roubles ($400 million) in production during 2008. ARMZ said it aims to triple its uranium output in Russia and Kazakhstan to over 10,000 tonnes by 2015.

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