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Russia to boost uranium production
RBC, 27.02.2006, Moscow 18:22:43.Russia's uranium production will increase to make up 70 percent of the amount consumed per year by 2015, deputy head of the Federal Agency for Subsurface Resources (Rosnedra) Vladimir Bavlov told a press conference today, noting that this will require investment of $10bn over that period. At present, uranium production in Russia accounts for 20 percent of the country's consumption. Thus, only 3,200 tons of natural uranium was produced in 2005 of the 16,000 tons consumed, the balance coming from stockpiles. Considering the rising level of uranium consumption, the stockpiles could be depleted by 2020, because at this point they are not being replenished, but only spent. According to Bavlov, Rosnedra plans to explore and develop new uranium fields in 2006, including those in the most promising Siberian region. Funding will increase each year, reaching $100-$120m annually from 2007 onwards, the bulk of which will go specifically to exploration. When asked whether private enterprises might be involved in the development of uranium fields, Bavlov noted that, though it could lead to considerable progress for the industry, the government was unlikely to allow it.
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