Russia and China to work on joint uranium mining project

By Valentina Ruiz Leotaud / March 12, 2018 / www.mining.com / Article Link

Rosatom announced on Monday that the Russia-China Investment Fund for Regional Development will kickstart the financing for a uranium mining project in Russia's Zabaikalsky Territory.

Zabaikalsky is located in the southeastern region of Transbaikalia and has a 998-kilometre border with China and a 868-kilometre border with Mongolia.

According to state-owned website Sputnik, the agreement was signed on March 12, 2018, and following the signing ceremony, Russian Presidential Adviser Sergei Glazyev said the deal will strengthen commercial ties between Moscow and Beijing. "Both sides consider the project as the first step in widening cooperation. I think that the project is a breakthrough for creating mechanisms for joint investments in general," Glazyev told the media outlet.

The new project is expected to cost about $330 million. The fund's first contribution is estimated at $43.9 million.

Recent News

Gold's Bull Market Pullbacks

April 28, 2025 / www.canadianminingreport.com

Gold stocks down on metal drop

April 28, 2025 / www.canadianminingreport.com

Investment banks ahead of the gold price, institutions still behind

April 21, 2025 / www.canadianminingreport.com

Gold stocks up, juniors outperform on small cap strength

April 21, 2025 / www.canadianminingreport.com

Gold stocks rebound to new highs

April 14, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok