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26 November 2008
Uranium Holding ARMZ Takes Part in the Second Uranium Symposium «Uranium: Resources and Mining»
On November 26 the second International Symposium «Uranium: Resource and Mining» began at the All-Russian Research and Development Institute of Mineral Resources named after N.M. Fedorovsky. The plenary session was opened by the head of the Federal Agency for Subsoil Use A.A. Ledovskikh who gave a summary of the general condition of the uranium mineral resources in Russia and the problems of their reproduction.
Vice-President of the Russian Academy of Sciences N.P. Laverov noted in his speech that for the last thirty year there have not been any discoveries of major uranium provinces and the necessity to commission the reserve uranium deposits.
The participants of the symposium were welcomed by the Deputy General Director of the State Nuclear Power Corporation Rosatom P.G. Schedrovitsky who, in particular, noted that «in its operations Rosatom proceeds from the assumption that there is no alternative to renaissance of the nuclear power». His opinion is that many countries view the development of the nuclear power industry as a condition to procuring the long-term energy security.
V.I. Korogodin, Deputy Director of OJSC Atomenergoprom, spoke about the proposed Russian nuclear power industry development program. He underlined that the nuclear power industry has competitive advantages over hydrocarbon-based energy, since power generation by the nuclear units in terms of fuel consumption is much more economical and efficient. According to him, the development of the nuclear power industry in Russia will continue, and the development program will be funded not only by the company itself, but also by the government.
The uranium mining sector whose objective is to guarantee feedstock supply to the nuclear power generation has ambitious goals to reach, including enhanced competitiveness and improvement of technologies, noted V.I. Korogodin.
General Director OJSC Atomredmetzoloto V.L. Zhivov said that the total amount of ARMZ investment program up to 2024 will be RUR 203 bln., 85% or RUR 172 bln. of which are expected to be raised from non-budgetary sources. Currently, ARMZ funds its development with its own funds and borrowings without using any funding from the federal government.
ARMZ anticipates that it will increase its uranium production by 13%, up to 4.3 thousand tons, in 2009 first of all to satisfy the needs of the nuclear power industry development. The company also plans to create an engineering center which will consolidate the design and research and development activities related to development of uranium deposits. And although the corporate structure has not yet been determined, V.L. Zhivov noted that he would like for the private companies to also participate in its creation.
On the first day of the symposium the plenary session presentations were made by the deputy head of the Federal Agency for Subsoil Use V.N. Bavlov, Vice-President of JSC NNC Kazatomprom S.A. Yashin, a business unit director of AREVA Dominique Delorme, General Director of OJSC VNIIHT V.V. Shatalov, representatives of the industry organizations and companies from Russia, Ukraine and Uzbekistan.
The symposium will go on for three days, from November 26 to November 28.
