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16 February 2009
General Director of ARMZ Vadim Zhivov Speaks at Mining Indaba 2009 Conference in Capetown
The delegation of the Uranium Holding ARMZ headed by its General Director Vadim Zhivov took part in the Pan-African mining conference Mining Indaba 2009 in the Republic of South Africa. The international natural resources conference Mining Indaba held on February
In his speech Vadim Zhivov underscored that ARMZ is dynamically developing despite the world economic crisis. In 2008 the resources of ARMZ amounted to 538,000 tons, and the production including the production of the Kazakh JV’s — 3,687 tons of uranium. By 2025 ARMZ plans to become the leader of the world uranium production with the annual production reaching 20,000 tons. The production plans of ARMZ are based on the assumed long-term demand for uranium by the Russian and international nuclear industry. The investment program of the uranium holding for this period includes billions of dollars, with a major part of financing expected to come from strategic investors, noted Vadim Zhivov.
Vadim Zhivov also stated that ARMZ views Africa as one of the most promising regions of its development. With its 19% of the world uranium reserves, Africa has significant potential of the resource development as confirmed by the results of geological exploration (the uranium reserves increased during the last two years by nearly 50%). The majority of the deposits in the continent allow to conduct mining operations using the most efficient methods — open pit mining and, potentially, the in-situ leaching.
Currently, the holding is implementing its pilot project in Namibia — uranium exploration JV SWA Uranium Mines. The experience of this company will play a significant role in the development of ARMZ’s business in Africa and will be used in other potential projects of the holding in this continent, noted Vadim Zhivov.
