Armenia OKs uranium joint venture with Russia

07 March 2008

[RIA Novosti, 6 March] The Armenian government has authorized the establishment of a joint venture with Russia for additional prospecting for uranium deposits in Armenia. In February, Russian state nuclear energy corporation Rosatom and the Armenian environmental ministry signed a memorandum to set up a 50:50 Russian-Armenian joint venture to explore for uranium and other minerals in Armenia. The uranium would be enriched in the planned international enrichment centre at Angarsk, Russia, which will operate under the supervision of the International Atomic Energy Agency (IAEA). Armenia has agreed to join the international uranium enrichment centre project, along with Kazakhstan and Russia. Ukraine has also expressed interest in participating. Armenia's uranium reserves are estimated at 30,000 to 60,000 tonnes.