It has ambitious plans to mover even further up the league, based on promising deposits in Eastern Siberia and other regions, and opportunities for mutually advantageous cooperation with countries rich in uranium ore.

Today, the uranium market is very busy and full of optimism. It is characterized by a high-level of monopolization - three quarters of all uranium is produced by five countries. Having placed its stake on nuclear energy, Russia has left itself no choice but to replenish its uranium reserves under a clear-cut and rational program.

In 2006, Russia launched cooperation with Kazakhstan. It owns 49% of shares in the Zarechnoye Joint Venture (JV), which is in charge of a 19,000-ton uranium deposit. Last year, Russia signed a bilateral agreement with Australia, which will supply it with one million dollars worth of uranium for civilian purposes every year.

Also last year, Russia set up joint ventures with Canada's Cameco Corporation to undertake uranium prospecting and extraction in both countries. Potential for uranium production has also been assessed in Armenia; and Russia and Armenia have signed an agreement on uranium prospecting and production.

Mongolia may also occupy a major place in the global nuclear industry. In theory, its uranium resources are the biggest in the world, and it only remains to explore and produce them.