Rosatom and Ecology Ministry of Armenia signed a protocol on joint uranium prospecting and extraction

23.04.2007 // Interfax

Rosatom and Ecology Ministry of Armenia have signed a protocol of intention to cooperate in uranium prospecting, extraction and processing

The protocol has been signed by the head of Rosatom Sergey Kiriyenko and Ecology Minister of Armenia Vardan Aivazyan. The sides have agreed to carry out additional prospecting of the uranium deposits of Armenia. The reserves of the deposits are estimated at 30,000 tons but Russian experts say that after the additional prospecting this figure may grow by 1.5–2 times.

During a press-conference Kiriyenko said that by the end of this year the sides are planning to set up a 50/50 uranium prospecting JV. In a few weeks a group of Russian experts will go to Armenia to start the prospecting. Kiriyenko said that Armenia is also interested in joining the International Uranium Enrichment Center – a joint Russian-Kazakh project.

Kiriyenko said that in May Russia and Kazakhstan are planning to sign an inter-governmental agreement on the establishment of the center, after which Armenia may join it. The center will be an open JSC and, in order to ensure Armenia’s participation in that company, an Armenian legal entity will have to buy a certain quantity of shares on behalf of the Armenian Government.

The accession of Armenia into the center and the establishment of the JV will allow Armenia to form a full nuclear fuel cycle, Kiriyenko noted that the uranium extracted in Armenia will be enriched in Russia in the framework of the center. After enrichment the fuel may be used by Armenia, particularly, for its NPP.