OREANDA-NEWS. March 20, 2008. This is 7% more than in 2006 (3,190 tons). Inclusive the uranium mined in Kazakhstan, this index amounts to 3,527 tons thus bringing Russia up from the fifth to fourth place in the world and Uranium Holding ARMZ to the fifth place among the world’s leading uranium mining companies. In 2007 Uranium Holding ARMZ is planning to mine 3,880 tons.

The greater part of the uranium – 3,307 tons – was mined by Priargun Mining Chemical Combine (Zabaikalye region). Dalur CJSC (Kurgan region) mined 350 tons (33.8% more than in 2006). Khiagda OJSC (Buriatia) mined 26 tons.

In 2008 Uranium Holding ARMZ is planning to further increase uranium mining in the territory of Russia: the company is planning to mine 3,580 tons (14% more than in 2007) due to Dalur and Khiagda companies (410 tons and 120 tons respectively).

Of the two Kazakhstan-based companies (Zarezhny and Aqbastau JVs) only Zarechny mined uranium in 2007. It produced 114 tons. This year that company is planning to mine 300 tons. 

In 2008 Uranium Holding ARMZ is planning to invest 9.5bln RUR in production, mostly in its construction and designed projects: Khiagda OJSC, Elkon CJSC, Olovsky CJSC, Gornoye CJSC, Lunnoe CJSC and Aqbastau JV (Kazakhstan). Except for Khiagda all the above companies were established in 2007. The holding is also planning to invest money in the establishment of JVs with Cameco company (Canada): in 2008 the parties are planning to set up two JVs (one in Canada and one in Russia) for discovering and developing new uranium deposits.

By 2015 Uranium Holding ARMZ is planning to triple uranium production in Russia and Kazakhstan and to mine over 10,000 tons.