New ore mining/smelting factory to meet 30% of Russia's uranium demand

GORNO-ALTAISK, April 5 (Itar-Tass) - Elkon ore mining and smelting
factory, which is due to be built in Yakutia, will meet up to 30% of
Russia's demand for uranium in the future, Mikhail Bruk, the director
general of the Corporation for Southern Yakutia's Development said Tuesday.
He spoke in the town of Aldan where a forum of local social and
economic projects was held.
This year, projects design works related to the factory will be
completed before the yearend.
"For this purpose, a total of 7 billion rubles /USD 1=RUB 28.5/ was
allocated," Bruk said. "In 2012, an infrastructure necessary for the
factory will be created and the construction works as such will begin in
twelve months' time."
The facility will be producing up to 5,000 tons of uranium on the
average.
The Elkon GMK group of companies was set up in 2007 to develop the
southern group of deposits of the Elkon uranium ore province, which boasts
the world's second largest reserve of uranium ore.
At this moment, Elkon GMK has licenses for prospecting and developing
seven deposits.
Their development is part and parcel of a program for upgrading Russia'
s nuclear power industry. Construction of the facility is entered in the
Comprehensive Development of Southern Yakutia investment project.
Last year, Elkon GMT did the engineering and prospecting works, as
well as the ecological studies of the basic conditions of the environment.
The company also did the industrial testing of the proposed patterns
of ore production and supplementary prospecting at the Elkon deposit
itself and at the neighboring Neprokhodimoye deposit.