RUSSIA, ARMENIA SIGN PROTOCOL ON URANIUM MINING IN ARMENIA

Prime-Tass English-language Business Newswire
April 23, 2007 Monday 5:24 PM EET

YEREVAN, April 23 (Prime-Tass) – Russia and Armenia have signed
a protocol of intent to jointly explore uranium deposits and mine
uranium in Armenia, ITAR-TASS reported Monday.

The document was signed Monday by Sergei Kiriyenko, head of Russia’s
Federal Atomic Energy Agency, and Vardan Aivazyan, Armenia’s minister
of environmental protection.

At the same time Armenian state company Geoeconomic and the Russian
Research Institute for Chemical Technologies signed a contract to
appraise Armenia’s uranium reserves, ITAR-TASS said.

"We must finish the appraisal of Armenia’s uranium reserves and
establish a joint venture before the end of 2007," Kiriyenko said.

Russia may invest up to several hundred million dollars exploring
and developing uranium deposits in Armenia, Kiriyenko said.

Also, Armenia has expressed interest in joining the international
uranium enrichment center in Russia’s Angarsk, Kiriyenko said.

The international uranium enrichment center in Angarsk started
operating this year. The first joint venture in the center has been
established between Kazakh state-owned nuclear company Kazatomprom
and Russian state-owned nuclear fuel exporter Tekhsnabexport.

From: Emil Lazarian | Ararat NewsPress