Source: Ria Novosti                      Date: 19 August, 2010

Almost a year after it was signed on August 25, 2009 in Ulaanbaatar the Russian Government has placed before the lower house of the Russian Parliament for ratification its agreement with Mongolia on setting up Dornod Uranium, a joint uranium mining company with limited liability. The shareholders will be Atomredmetzoloto (ARMZ) on the Russian side and MonAtom LLC on the Mongolian side. Both are State-owned.

Mongolia has never sealed deals in uranium with other countries. The product output of the joint venture is planned at 2,000 tons per year.