ARMZ, Rostec and the Administration of Trans-Baikal Territory agreed upon cooperation in the region

ARMZ Uranium Holding Co. (mining arm of State Corporation Rosatom), RT-Global Resources LLC (hereinafter referred to as RT-GR, a subsidiary of RT-Business Development LLC of State Corporation Rostec) and the Government of Trans-Baikal Territory concluded an agreement on cooperation.

In the course of the ХХ Saint-Petersburg International Economic Forum the document was signed by Vladimir Verkhovtsev, Director General of ARMZ Uranium Holding Co., Rodion Sokrovishchuk, Director General of RT-GR, and Natalya Zhdanova, acting Governor of Trans-Baikal Territory.

The signed agreement is significant from the point of view of importance of West Siberian promising deposits development and is directed to provision of state approach, and sustainable development of the mining industry in Trans-Baikal Territory, realizing the socioeconomic potential of the region and strengthening of Russian state corporations’ participation in the strategically important sector of the economy.

The parties to the agreement will examine variants of cooperation within the framework of promising projects, which are planned to realize in the region as well as possibilities to use personnel, infrastructure and transport potential of the acting production sites of Trans-Baikal Territory in the interests of potential investors. Currently projects for copper smelting plant construction as well as industrial projects for extraction of gold and other sources of raw materials are already being worked out in the region.

“Trans-Baikal Territory is one of the most promising regions in Russia, which combines all opportunities for industrial growth: developed transport and energy infrastructure, significant personnel potential, rich available mineral resources and raw materials. Our enterprise, Priargun Production Mining and Chemical Association, is extracting uranium in Krasnokamensk. The region is also rich in gold, copper, iron ore, which undoubtedly makes it attractive from the investment point of view. However, not all socioeconomic resources of Trans-Baikal Territory are fully used. We are happy that all new partners see their future and prospects in the region, and welcome their intention to work jointly at the comprehensive development of Trans-Baikal Territory”, Vladimir Verkhovtsev, Director General of Atomredmetzoloto, said.

As Rodion Sokrovishchuk, Director General of RT-Global Resources, said at the signing ceremony, “The agreement, signed today, opens great investment opportunities for us in bringing  promising projects in mining into life on the territory of East Siberia. RT-Global Resources holding, carrying out projects involving raw materials, is consistently expanding the package of realized projects involving raw materials of Rostec Corporation and is working to increase the synergetic effect of economic activities. Strengthening the mining vector for rare-earth metals and other resources will allow to provide Russian industry, including enterprises of the defense industry complex and machine-tool industry, with strategically important raw materials.  Realization of new investment projects is necessary in particular to carry out raw material import substitution programs and providing resource safety of State Corporation Rostec. I would like to single out the social importance of the work – this is new jobs in the high technology sector of the economy and a push in the development of the whole region”.

“The joint agreement is signed with the purpose of stable development of the mining sector of Trans-Baikal Territory, increase of efficiency of the use of mineral resources and raw materials, providing sustainable competitive advantages of the biggest mining enterprises of the region and the country as a whole”, Natalya Zhdanova, acting Governor of Trans-Baikal Territory, says.