Mikhail Stiskin, analyst of Troika Dialog IC

– Mongolia has a number of uranium deposits that can be developed with Russia’s participation

Mongolia is interested in cooperating with Russia in the field of peaceful use of nuclear energy, Prime Minister of Mongolia Sanj Baya said during his meeting with Russian Prime Minister Vladimir Putin in Ulan Bator on May 13 2009. He suggested continuing the work to set up a uranium mining joint venture and to sign agreements in the field of personnel training and peaceful use of nuclear technologies.

Considering the high cost of uranium mining inside the country Rosatom is actively searching and finding uranium sources abroad. We are working in Kazakhstan. Mongolia also has a number of uranium deposits that can be developed with Russia’s participation. I think that all the uranium mined there will be taken to Russia for processing.

The agreement signed by Rosatom and Japan May 12 stipulates the involvement of Japanese companies in the development of Elkon deposit in Yakutia. It may so happen that the Japanese will also be involved in Rosatom’s Mongolian project.

As a result of Russian-Mongolian negotiations in Ulan Bator May 13 2009 Rosatom State Nuclear Energy Corporation and the Agency for Atomic Energy of Mongolia have signed an agreement for intensifying their cooperation in the field of peaceful use of nuclear energy. The agreement stipulates establishment of a joint venture for development of uranium deposits in Mongolia, Russia and third countries. Russia owns almost 40% of the world’s uranium processing capacities and is interested in using them in full especially as today the uranium prices in the world are quite high.

It should also be noted that during a meeting in Tokyo on May 12 2009 Director General of Rosatom State Nuclear Energy Corporation Sergey Kiriyenko and Minister of Foreign Affairs of Japan Hirofumi Nakasone signed an inter-governmental agreement for cooperation in the field of peaceful use of nuclear energy. The document is aimed at laying a firm legal basis for the actively developing Russian-Japanese cooperation in the field of peaceful use of nuclear energy and covers a wide range of activities: prospecting and mining of uranium; engineering, construction and operation of light water reactors; processing and treatment of radioactive waste; nuclear safety and ecological control; study and use of radio-isotopes and radiation. The document says that the parties may exchange of experience and experts, provide services and supply materials, products and technologies.