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Russia, Mongolia plan to set up joint uranium venture


IRKUTSK, January 22 (RIA Novosti) - Russia's Rosatom state nuclear corporation plans to sign in the first quarter of 2009 a cooperation agreement with Mongolia that may include a joint venture to develop uranium deposits in both countries.

Sergei Kiriyenko, the head of Rosatom, said on Thursday that the joint venture could also develop uranium deposits in other countries.

Mongolia estimates its uranium reserves at 60,000 metric tons. Russian experts have assessed the country's reserves at 120,000-150,000 tons.

There is an estimated 5 million tons of recoverable uranium reserves worldwide.

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