Mongolian uranium

Mongolian uranium

Mongolia, which is believed to have one-fifth of the world’s uranium deposits, has recently seen a number of officials representing both countries and private businesses visiting the country.

Local media reports recent visitors included a former Prime Minister of Russia, Mr. M. Fradkov, the head of the RosAtom Agency, Mr. S. Kirienko, and the Director of the Federal Council of the Russian Federation, Mr. B. Mironov.

Private companies visiting Ulaanbaatar included Bazovy Element, Renova, and Severstali from Russia; Mitsui from Japan; a joint French and Japanese company STIC; the Australian Paladina and BHP Billiton; the French Areva and the Brazilian CVRD.

Also, companies expressing a desire to expand their present uranium exploring activities are UGL, Central Asian Uranium, and Western Prospector.
Uranium prices leaped from USD$12 per pound in 2003 to USD $130 per pound in 2007. While prices have since fallen, it is expected prices will again rise before the end of 2008.

Mongolian uranium