Russian government approves uranium deal with Mongolia
Moscow, Aug 16, 2010 (BBC Monitoring via COMTEX) -- The government of the Russian Federation has approved an inter-government agreement between Russia and Mongolia, concluded in August 2009 on setting up a limited-liability joint venture Dornod Uran.
According to the resolution approved by Prime Minister Vladimir Putin on 12 August, a draft law on the ratification of this agreement will be submitted to the State Duma of the Russian Federation. The task of presenting the draft law in the State Duma has been given to Deputy Foreign Minister Aleksey Borodavkin and deputy director-general of the Rosatom state company, Nikolay Spasskiy.
The bilateral uranium joint venture with Russia for the exploration of the Dornod deposits is being set up within the framework of the international agreement between Russia and Mongolia, signed in August 2009.
It is envisaged that the Mongolian side (the MonAtom state company) will received 51 per cent in the uranium joint venture. The co-founder of the joint venture from the Russian side is the Russian holding company OAO Atomredmetzoloto (ARMZ). The sides do not rule out that in the future a third party may join the development of Dornod, for example China or Japan. At present Russia is waiting for a decision by Mongolia on setting up the joint venture. The head of Rosatom, Sergey Kiriyenko, announced in May this year that the state corporation was expecting to receive an answer from the Mongolian side in the near future. He noted that Russia had already submitted to the Mongolian side the founding documents for the creation of the joint venture. [Passage omitted: background, history]
Source: Interfax news agency, Moscow, in Russian 0824 gmt 16 Aug 10
BBC Mon FS1 FsuPol AS1 AsPol iu
BBC Monitoring. Copyright BBC.
According to the resolution approved by Prime Minister Vladimir Putin on 12 August, a draft law on the ratification of this agreement will be submitted to the State Duma of the Russian Federation. The task of presenting the draft law in the State Duma has been given to Deputy Foreign Minister Aleksey Borodavkin and deputy director-general of the Rosatom state company, Nikolay Spasskiy.
The bilateral uranium joint venture with Russia for the exploration of the Dornod deposits is being set up within the framework of the international agreement between Russia and Mongolia, signed in August 2009.
It is envisaged that the Mongolian side (the MonAtom state company) will received 51 per cent in the uranium joint venture. The co-founder of the joint venture from the Russian side is the Russian holding company OAO Atomredmetzoloto (ARMZ). The sides do not rule out that in the future a third party may join the development of Dornod, for example China or Japan. At present Russia is waiting for a decision by Mongolia on setting up the joint venture. The head of Rosatom, Sergey Kiriyenko, announced in May this year that the state corporation was expecting to receive an answer from the Mongolian side in the near future. He noted that Russia had already submitted to the Mongolian side the founding documents for the creation of the joint venture. [Passage omitted: background, history]
Source: Interfax news agency, Moscow, in Russian 0824 gmt 16 Aug 10
BBC Mon FS1 FsuPol AS1 AsPol iu
BBC Monitoring. Copyright BBC.
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