Bagdarin Village

Bauntovsky Evenk District

Republic of Buryatia 

ARMZ Uranium Holding (formerly known as Atomredmetzoloto) is uranium production and geological exploration division of Atomenergoprom and ROSATOM. The company was established in 1992 to arrange mining of rare metals, zirconium and other elements used in the nuclear fuel cycle along with uranium. In 2007, ARMZ Uranium Holding became an authorized company of ROSATOM for production of uranium and associated minerals. At present, ARMZ operates all uranium mining facilities in Russia, and also controls more than 20% of uranium reserves in Kazakhstan, through its shares in joint ventures (Zarechnoye JV, Akbastau JV, Karatau JV). Thus, ROSATOM ranks second in the world as regards explored uranium reserves (about 583 000 t of uranium), taking into account its share in Russian-Kazakh joint ventures. As for uranium production, ARMZ was 5th in the world with its 3841 t of U mined in 2008. The 98% of ARMZ shares are owned by TVEL, an Atomenergopromcompany, and Atomenergoprom itself is a direct holder of 2% of the uranium holding.  ARMZ Uranium Holding mines natural uranium in Russia and other countries. For over 40 years, Priargunsky Industrial Mining and Chemical Union has been the principal natural uranium mining enterprise producing up to 90 % of domestic natural uranium. Two other Russian mining enterprises – open joint-stock companies Khiagda (Buryatia) and Dalur (Kurgan Region) have been increasing natural uranium production. The near-term plans of the holding include organization of natural uranium production at its four new enterprises: Elkon Mining and Metallurgical Plant and Lunnoye in Yakutia; Gornoye Uranium Mining Company and Olovskoye Mining and Chemical Company in Transbaikalia (all four are closed joint-stock companies).  The project of Elkon Mining and Metallurgical Plant stands alone in this list. ROSATOM is to develop one of the largest deposits of natural uranium in the world – Elkon uranium ore region which has uranium reserve of 319 K t (6% of global recoverable reserves). This large-scale project will be implemented with governmental support: South Yakutia Development Corporation was established to facilitate industry cluster development in the region.  The Elkon region development project will be partially financed from the Investment Fund of the Russian Federation.  ARMZ Uranium Holding has a wide uranium cooperation with other countries. Thus, it has initiated joint uranium exploration and mining projects in Kazakhstan, Mongolia, Namibia, Canada, Armenia and Ukraine.