Source Pravda.Ru

Russia Sign Uranium Supply Deal With South Africa

Russia is to provide South African nuclear power stations with uranium until at least 2017 in a key deal extending Moscow's trade ties in the continent.

The contract, signed in the Kremlin on Thursday by President Dmitry Medvedev and visiting South African President Jacob Zuma, comes into effect next year.

Sergey Kiriyenko, chief of the Russian atomic agency Rosatom, told that the deal would push Russia to control some 45 percent of South Africa's uranium market, according to BusinessWeek.

It was Zuma's first state visit to Moscow since becoming President in 2009. He is leading a political and business delegation that consists of 11 Ministers.

Addressing a news conference in the Kremlin after talks with Zuma, Medvedev said the deal was 'just a beginning' in developing the immature relations between the two countries.

Both the leaders discussed trade and investments in minerals, energy, science and technology, defense and aerospace, RTT News says.