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Russia invests in new uranium mine in Kazakhstan


October 06, 2003

Russia will provide 14.5 million dollars in funding to develop the Zaporechnoye uranium in southern Kazakhstan. The mine will be operated under a joint venture with Russia, Kyrgystan and Kazakhstan, with the latter's 45% share held by Kazatomprom. Site development should begin in 2004 and production is scheduled to start in late 2005. The mine has an annual capacity of 425 metric tons of uranium.