Russia, Mongolia agree conditions to set up JV in uranium mining

Russia and Mongolia on Tuesday agreed the conditions on which a joint uranium mining company, Dordon Uran, will be established.

The agreement was signed following negotiations between Russian Prime Minister Vladimir Putin and his Mongolian counterpart Sukhbaataryn Batbold.

The intergovernmental agreement on setting up Dordon Uran was signed last year by Sergei Kirienko, the head of the Russian state corporation Rosatom, and Sodnomyn Enkhbat, the head of the Atomic Energy Authority of Mongolia.

The product output of the Russian-Mongolian uranium mining joint venture is planned at 2,000 tons per year.

Apart from this, Mongolia's $180-million debt to Russia was settled on Tuesday.

The countries also adopted a memorandum for cooperation in energy and approved a program for trade and economy cooperation for 2011-2015.

MOSCOW, December 14 (RIA Novosti)