Government Decision Sets New Pace for Uranium Program
14:23 January 11, 2012
EcoLur
One New Year Eve, on 29 December 2011, the Armenian Government reached a decision to permit Armenian-Russian Mining Organization (ARMO) to increase chartered capital by 590 million AMD (about1,3 million USD). These funds will secure geoprospecting of uranium reserves in the territory of Armenia. This decision challenges many statements made by officials that resumption of works within uranium program in Lernadzor in fall 2011 are the final part of uranium geoprospecting and, that most probably Armenia has no uranium reserves.
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