16 Dec 2010 15:21

ARMZ sees $300 mln-$400 mln investment in Mantra

MOSCOW. Dec 16 (Interfax) - Investment in Australia's Mantra Resources will total $300 million-$400 million, and mining should begin in 2012-2013, Vadim Zhivov, general director of Russian uranium holding Atomredmetzoloto (ARMZ), told a press conference.

Uranium One, which is controlled by ARMZ, will invest the money. "It will finance the Mantra capex. "We'll also sign a deal on operational support for the project," he said. The project will have a life of 12-13 years.