MOSCOW, April 23 (UPI) -- Russia and Armenia signed a treaty Tuesday in Yerevan to set up a joint venture for the exploration and mining of uranium and other minerals in Armenia. A joint company is being established on parity lines and will be registered within the next three months.

The treaty was signed by Vadim Zhivov, general director of the Atomredmetzoloto uranium holding, and Armenian Environmental Protection Minister Aram Arutyunyan. ARMZ manages all of Russia's uranium assets and runs some projects in Kazakhstan.

AMRZ ranks second in the world for uranium reserves. This is the result of the nuclear industry's restructuring, and in particular the pooling of its core plants under one umbrella.

With the focus on nuclear power, Russia is now planning its uranium future carefully to warrant the successful development of its nuclear industry.

The collapse of the Soviet Union has left Russia high and dry, with many well-researched fields outside its boundaries, mainly in Central Asia (Tajikistan, Kazakhstan, Kyrgyzstan and Uzbekistan).