S.Korea consortium to sign deal for Russian uranium

A South Korean consortium will sign a memorandum of understanding with Russian state-run firms to secure uranium, the feedstock used for nuclear power generation, one of the partners in the group said on Friday.

The deal with Russia’s state-owned mining companies ARMZ and Uranium Mining Company (UMC) would ensure steady supply of the feedstock, which saw a near seven-fold price surge over the past five years.
Energy-hungry Asian countries like South Korea and Japan have been showing interest in the deal since the announcement by the Russian government on the sale of a 49 percent stake in UMC.

Reuters