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Russian ARMZ exceeds its 2020 uranium production target, sees 29% revenue growth from non-uranium businesses

Vladimir Basov

Kitco News

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Image credit: ARMZ.

(Kitco News) - Russian uranium holding ARMZ, the state nuclear corporation Rosatom’s mining division, said yesterday that it has exceeded its 2020 uranium production target by 2%.

The company’s uranium mining enterprises located in the Trans-Baikal Territory, the Republic of Buryatia and the Kurgan region of Russia, have been producing uranium throughout the 2020 year without interruptions.

ARMZ also said that in 2020, the revenue from its non-uranium businesses (coal production, heat and power generation, etc.) increased by 29% compared to 2019.

CEO Vladimir Verkhovtsev said, “The pandemic has consequences for all mining companies across the globe, including ARMZ. However, ARMZ team did not stop operations like many other world-renowned producers did, and even exceeded its uranium production targets.”

ARMZ manages Russian uranium mining assets, located in the Trans-Baikal Territory (Priargunsky mine), the Republic of Buryatia (Khiagda mine) and in the Kurgan region (Dalur mine).

By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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