Monday, April 16, 2007

Russia, Mongolia to jointly prospect, produce, process uranium - 1

Not too sure what to make of it. But I suppose this signals the resurgence of interest in Mongolia from our Big Brothers, the Russians.

MOSCOW, April 13 (RIA Novosti) - Russia and Mongolia will jointly prospect, produce and process uranium, the press secretary of Russia's nuclear power agency said Friday.

"[Nuclear power agency] Rosatom and Mongolia's industry and trade ministry signed a protocol on development of cooperation in the field of geological prospecting, production and processing of uranium ores," Sergei Novikov said.

Mongolia possesses reserves of 37,000 metric tons of uranium-molybdenum ores. Molybdenum is a silver-white chemical element used in alloys for electrical resistance furnaces, crucial in nuclear processing.