OREANDA-NEWS. February 1, 2008. In 2008 the Federal Agency for Management of Subsurface Resources (Rosnedra) is planning to allocate over 8bln RUR for prospecting of uranium deposits, the head of Rosnedra Anatoly Ledovsky said during a press-conference on Jan 30 2008. He said that Rosatom was planning to allocate 7bln-8bln RUR for the same purpose. Just to compare, in 2007 Rosatom and Rosnedra spent 2bln RUR and 1.8bln RUR, respectively, on uranium prospecting. 

Ledovsky said that in 2007 the financing of the uranium sector was increased by 122%. 28,000 tons of P1 uranium and 133,000 tons of P2 uranium were transferred into additional reserve.

In 2007 Rosnedra issued 16 licenses for prospecting uranium over deposits with total reserves of 400,000 tons. The aggregate reserves of P1 and P2 uranium amount to 835,000 tons.

Ledovsky said that Russia had lots of prospective uranium deposits: in Zabaikalye, Zauralye, Chukotka, Kalmykia, Central Siberia. “Prospecting has shown that we have big uranium reserves and, if in the next five years we start developing 3–4 deposits, we will have no problems with uranium,” ledovsky said.

Meanwhile, the recently published report of the Ministry of Natural Resources says that by 2020 Russia should triple its P1 uranium reserves: from present 361,000 tons to 1,184,000 tons. This goal is set by the revised strategic program for the study and reproduction of Russia’s mineral resources till 2020. The revised version stipulates enlargement of the geography of prospecting activities and enhancement of investments (including federal allocations) in relevant projects.