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Eastern Economic Forum

Russia boosts uranium exploration funding nearly sevenfold this year

According to the Deputy Natural Resources Minister Dmitry Tetenkin, uranium exploration is underway in Buryatia, Yakutia, the Trans-Baikal Region and the Jewish Autonomous Region

VLADIVOSTOK, September 3. /TASS/. Russian authorities have increased funding for uranium exploration nearly sevenfold this year to 6 bln rubles ($68.73 mln). This will help prepare promising sites for development as a uranium shortage is expected, Deputy Natural Resources Minister Dmitry Tetenkin said at the Eastern Economic Forum (EEF).

"This year, we increased funding for uranium exploration almost sevenfold, from 900 mln rubles to 6 bln rubles. This is necessary to prepare promising sites for development, as a shortage of natural uranium is expected," he said.

The deputy minister noted that uranium exploration is underway in Buryatia, Yakutia, the Trans-Baikal Region and the Jewish Autonomous Region. "The work will continue over the next three years. We plan to invest at least 13 bln rubles, which will come from excess auction revenues," he stressed.

The Eastern Economic Forum is being held on September 1-4 in Vladivostok on the campus of Far Eastern Federal University. The forum is organized by the Roscongress Foundation with the support of the Russian government. TASS is the general information partner.

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Eastern Economic Forum

Eastern Economic Forum

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