OREANDA-NEWS. November 30. During a meeting in Ottawa on Nov 29 representatives of Atomredmetzoloto OJSC (Atomenergoprom’s leading company for uranium mining in Russia and abroad) and Cameco Corporation, the world’s leader in uranium mining, concluded an agreement for establishing joint ventures for uranium prospecting and mining in Russia and Canada.

The agreement was signed by Director General of Atomredmetzoloto V.Zhivov, President and CEO of Cameco Corporation Gerald Grandey and Senior Vice President of Cameco Corporation George Assie.

The agreement is a logical follow-up on the memorandums of mutual understanding signed by Techsnabexport OJSC (100% subsidiary of Atomenergoprom) and Cameco Corporation. Now that Russia’s uranium mining assets have been placed under the control of Atomredmetzoloto the company acts as Techsnabexport’s successor in the field.

The Russian-Canadian JVs are supposed to prospect and mine uranium in the territories of Russia and Canada, particularly, in North-Western Russia and provinces of Saskatchevan and Nunavut. 

The agreement is supposed to help Russia and Canada to find new uranium mines in their territories.