MOSCOW, April 22 (RIA Novosti) - A joint venture established between Russia and Armenia plans to start uranium prospecting in the south of Armenia by late 2008, the venture's Russian participant said on Tuesday.
Atomredmetzoloto, which manages all Russian uranium-producing assets, and the Armenian Environmental Ministry, signed on Tuesday in Yerevan an agreement on establishing a joint venture to prospect and mine uranium and other mineral resources on the territory of the South Caucasus state.
The JV agreement is the first stage in the implementation of a cooperation memorandum signed in February between the Russian nuclear corporation Rosatom and the Armenian environmental ministry.
Atomredmetzoloto is a subsidiary of Rosatom.
Armenian uranium reserves are estimated at 30,000-60,000 metric tons.
