TVEL gets state share in Malyshevsk Mining

30 July 2001

JSC TVEL will get a 51% controlling share package in Malyshevsk Mining Combine. JSC TVEL is planning to restructure the combine’s debts. For many years Malyshevsk Mining Utility mined uranium in the Kurgan region by underground leaching. It was reported earlier that Aleksandr Nyago, who heads Russia’s Telekominvest holding, may take charge of TVEL. The TVEL concern, which has an annual turnover of about $1 billion, is engaged in nuclear fuel extraction, processing and marketing, as well as maintenance and repairs of complexes working with nuclear materials.

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