TVEL takes government stake in mining company

3 September 2003

Russia's TVEL, is to take over the government's 38% stake in the Priargunsky Mining and Chemical Production Association (PPGKhO) in line with a presidential decree of 25 July. The government will pay for new TVEL shares with the federal shares in PPGKhO. TVEL, which now owns 37% of shares in PPGKhO, will thus increase its stake to 75%.

PPGKhO will become one of nine nuclear fuel cycle production enterprises in which TVEL holds controlling stakes. PPGKhO mines Russia's biggest explored uranium deposit and employs more than a third of the working population of the Chita region town of Krasnokamensk. The company produces natural uranium, molybdenum compounds and various products bases on them. It also mines coal and zeolites, and produces sulphuric acid. PPGKhO produces 3000t of uranium per year.

Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.