RUSSIA’S leading uranium-mining company, Atomredmetzoloto, a subsidiary of state nuclear power company Atomenergoprom, intends to start uranium prospecting near the Spitzkoppe mountains in Namibia in a few weeks.
The joint venture will carry out prospecting in the promising Klein Spitzkoppe area in the Erongo Region. Prospecting is expected to last two or three years, and yield uranium reserves of at least 5 000 tonnes.Atomredmetzoloto intends to set up a joint venture with a subsidiary of Russia’s second largest bank, Vneshtorgbank (VTB) and a company called VTB Capital Namibia, in which the local company Capricorn Investment, the holding company of Bank Windhoek, is involved.The agreement to set up VTB Capital Namibia was signed in Windhoek two years ago by Senior Vice President Oleg Muradyan on behalf of VTB, and Koos Brandt, Chairman of Capricorn Investment Holding.Russian investment company Arlan will join the uranium fray and the new company will set up its headquarters in Namibia, the Russian news agency Ria Novosti reported yesterday.Arlan will hold 75 per cent minus one share in the envisaged uranium joint venture, while Atomredmetzoloto and VTB Capital Namibia will possess 25 per cent plus one share.Atomenergoprom was established in 2007 and became a part of Russia’s state-owned nuclear power corporation Rosatom in February this year.”Atomredmetzoloto will prepare a feasibility study and act as the project’s manager, while VTB’s subsidiary will contribute two uranium prospecting licences (already acquired) to the joint venture,” the Russian news agency reported.”Arlan will provide funds for the project, with initial investment estimated at US$4,5 million, (about N$30 million),” the agency added.The two exploration licences are EPL 3850 and EPL 3581, which were granted on January 17 this year, and they will be valid until January 16 2010.Prospecting is expected to last two or three years, and yield uranium reserves of at least 5 000 tonnes.Atomredmetzoloto intends to set up a joint venture with a subsidiary of Russia’s second largest bank, Vneshtorgbank (VTB) and a company called VTB Capital Namibia, in which the local company Capricorn Investment, the holding company of Bank Windhoek, is involved.The agreement to set up VTB Capital Namibia was signed in Windhoek two years ago by Senior Vice President Oleg Muradyan on behalf of VTB, and Koos Brandt, Chairman of Capricorn Investment Holding.Russian investment company Arlan will join the uranium fray and the new company will set up its headquarters in Namibia, the Russian news agency Ria Novosti reported yesterday.Arlan will hold 75 per cent minus one share in the envisaged uranium joint venture, while Atomredmetzoloto and VTB Capital Namibia will possess 25 per cent plus one share.Atomenergoprom was established in 2007 and became a part of Russia’s state-owned nuclear power corporation Rosatom in February this year.”Atomredmetzoloto will prepare a feasibility study and act as the project’s manager, while VTB’s subsidiary will contribute two uranium prospecting licences (already acquired) to the joint venture,” the Russian news agency reported.”Arlan will provide funds for the project, with initial investment estimated at US$4,5 million, (about N$30 million),” the agency added.The two exploration licences are EPL 3850 and EPL 3581, which were granted on January 17 this year, and they will be valid until January 16 2010.
