MOSCOW, May 31 (UPI) -- Russia is moving quickly into the Mongolian mining sector.
Mongolia is one of Central Asia's last underdeveloped mineralogical sites and recent amendments to the country's contentious Mining Law have in the past year attracted massive foreign interest.
During the Soviet era Mongolia was a satellite client state of the Soviet Union and since the collapse of the Soviet Union in December 1991the Russian Federation has managed to retain a significant presence there.
Russian state atomic energy corporation Rosatom Director Sergei Kiriyenko told journalists that an agreement signed by the Russian and Mongolian governments to establish a uranium mining enterprise Dornod Uran is moving forward despite delays, Agentstvo Voyennykh Novostey news agency reported Tuesday.
Kiriyenko said: "We have already signed the final framework documents, which have yet to come into force. But it has been slightly delayed by procedural things on Mongolia's part. We have signed an action plan, according to which the Mongolian side is required to compile a list of property and assets it is ready to contribute to joint ventures."