Russia has agreed on uranium production with Canadian and Japanese companies and expects to sign a similar inter-governmental deal with Australia in September, the country's top civilian nuclear official said Thursday.

Sergei Kiriyenko said Russia was launching a large-scale program of uranium production inside the country and also intended to produce uranium for its needs in other countries.

"We must be fully confident that Russia's nuclear energy sector will always be provided with the uranium it needs," Kiriyenko said.

The country's nuclear chief also said the formation of the Uranium Mining Company (UGRK) and the transfer of the assets of state-run nuclear fuel producer TVEL and uranium trader Techsnabexport will be completed by mid-2008.

"We will complete the transfer of uranium producing assets to the UGRK trust management within several months until the end of this year and to full ownership in mid-2008," Kiriyenko said.

SOURCE: RIA Novosti

DATE: May 31, 2007

Topics: Uranium, Russia, Australia