Russian nuclear chief Sergey Kirienko (left) says all uranium produced in excess will be sold at world prices.
Photo: Dmitry Azarov
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Russia to Sell Leftover Uranium at Market Prices
Russian uranium producers will be able to sell excess uranium at world prices, nuclear officials announced Thursday. Industry experts predict that the first Russian commercial uranium will go to the market no earlier than in 2011.
Russian nuclear officials plan to gradually increase uranium prices to drive them to the market level in five years’ time. All uranium in excess of production goal could be sold at world prices, Sergey Kirienko, head of the Russian Atomic Energy Agency, said during his visit to a uranium mine in Chita Region.
A Kommersant source specified that nuclear officials are going to benchmark the industry to market prices, which will be linked with atomic power-generated electricity prices, rather than to the world market. Uranium prices are currently regulated by the government.
The first nuclear producer will switch to market prices in 2011 when the government liberalizes electricity prices.
Experts note that Russia is still far from being able to sell leftover uranium just because nuclear plants do not produce as much as one can imagine. Some 3,300 tons of uranium is produced in Russia every year, while nuclear power plants in the country need 4,500 tons, to say nothing of exports and ambitious plans to develop the industry.
www.kommersant.com
All the Article in Russian as of June 01, 2007
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