Atomredmetzoloto, JSC, (ARMZ Uranium Holding Co.), the Mining Division of Rosatom State Atomic Energy Corporation, is a Russian uranium producer internally ranked sixth in the world in terms of uranium production and second in terms of in-situ uranium reserves. ARMZ Uranium is the only uranium producer with operations inside Russia.[1]
History
ARMZ Uranium Holding Co. (Atomredmetzoloto, JSC) is a former state concern established in 1991, which evolved from the First Main Directorate of the USSR Ministry of Medium Machine-Building Industry. The concern was an industrial complex comprising mining and processing enterprises located in six countries of the Commonwealth of Independent States (i.e., Russia, Ukraine, Uzbekistan, Kazakhstan, Tajikistan, and Kyrgyzstan).
Early Days
The project for restructuring the nuclear industry resulted in the creation of Atomic Energy Power Corporation (Atomenergoprom, or AEP), a vertically integrated company encompassing enterprises of the civil nuclear industry. In early August 2007, Atomenergoprom acquired a 100% stake in Atomredmetzoloto, which became Russia’s flagship uranium mining company.
The fundamental changes to restructure the nuclear industry were fraught with Atomenergoprom executed the consolidation of all