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Law on ratification of Russian-Mongolian agreement on establishing Dornod Uranium joint venture

January 6, 2011

Dmitry Medvedev signed Federal Law On Ratification of the Agreement between the Government of the Russian Federation and the Government of Mongolia on Establishing Joint Company with Limited Liability, Dornod Uranium.

The Agreement was developed by the State Atomic Energy Corporation ROSATOM in order to maximise protection of the Russian Federation rights and interests in the field of prospecting for and mining of uranium on the territory of Mongolia.

The agreement provides for cooperation between the parties in order to establish, based on parity of interests, the Dornod Uranium Joint Company with Limited Liability to mine uranium and other associate minerals. The key areas of activity under the Agreement include prospecting for and mining of uranium ores, transportation, processing, and enrichment of extracted mineral resources, and marketing of end-use products, as well as setting up and operating uranium mining and processing plants and other infrastructure facilities on Mongolia’s territory, attracting investments for financing joint business on Mongolia’s territory, carrying out recultivation works, and ensuring nuclear, radiation, and environmental security.

The agreement was signed in Ulan Bator on August 25, 2009.

January 6, 2011