Russia Establishes Control of Uranium in Mongolia

Pravda:  Russia and Mongolia signed an agreement establishing a joint venture for uranium mining “Dornod Uranium.” The reserves of the fields are estimated at 22 thousand tons. The controlling stake in the future joint venture will be owned by the Mongolian side, and a subsidiary “Atomredmedzoloto” of Argun Mining and Chemical Association will act as the operator of the project.The Russian government agreed on the development of joint projects with the Mongolian side last year.

 OAO Russian Railways (RZD) has become the managing company of the Ulan Bator railway with 50% of shares. It was a joint venture between OAO Russian Railways, and two Mongolian state companies – Erdenet IPF and MIZ – to improve rail infrastructure.

At the recent meeting of Prime Ministers of Russia and Mongolia, the parties have agreed to increase the authorized capital of Russian-Mongolian joint-stock company Ulaanbaatar Railway by $250 million in equal shares. VTB is also able to provide a loan for the purchase of Russian locomotives.  Read more….

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