An uranium joint venture

Russia's state nuclear corporation Rosatom has offered Indian companies cooperation in development of uranium deposits in Russia and other countries, Rosatom spokesman Sergei Novikov said.

Novikov referred to corporation's Director General Sergei Kirienko who has recently participated in a meeting of the Russian-Indian intergovernmental commission for trade and economic cooperation and talks with the Uranium Corporation of India (UCIL).

"We have offered Indians a role in uranium extraction projects in Russia and in third counties. Rosatom should always retain control over the projects, partners may receive up to 49% of projects inside Russia," Novikov said.

In early April RIA Novosti announced that Russia and India could create a joint venture to prospect and mine uranium.

Kirienko then offered Indian companies a role in Elkon mine in Yakutia. He added the two countries would cooperate in building nuclear fuel manufacturing facilities both in Russia and India.

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