(MosNews) - Foreign companies are ready to invest money in uranium production in Russia as soon as the necessary legal base is established for these kinds of activities. This statement was made on Thursday, June 22, by Kreig Lindsay, a well-known energy expert and president of Canadian company Magnum Uranium. Lindsay gave an interview to RIA Novosti agency.
Foreign investors are ready to invest in Russias uranium industry, if Moscow wants this to happen and establishes a necessary legal base, Lindsay said. I believe that Russia is one of the most promising directions for this kind of investments, it is an undeveloped market, full of opportunities. My company will be the first to come to Russia, if the necessary conditions are created, he added, reports Trend.
Speaking to the members of Hong Kongs Club of foreign correspondents, Lindsay said that in the coming decades uranium may become the oil of the future. I am confident that nuclear power generation has a bright future and that it will crowd out other kinds of power generation, he said.
At the same time he noted that at present time there is a certain shortage of uranium, which is set to become more acute by 2013. In 2013 the fixed-price agreement for deliveries of uranium fuel from Russian to the U.S. will run out and this will create an increase in this fuels deficit, Lindsay said. At present time Russian supplies account for 40 percent of total uranium needs in the United States.