Rosatom, Russia’s state-owned nuclear energy corporation, announced the start of development at the Shirondukuyskoye uranium deposit in eastern Siberia. The company’s mining division stated that uranium production at the site is expected to commence in 2028. Located near Krasnokamensk, a city close to the borders of China and Mongolia and known as Russia’s “uranium capital,” the deposit holds an estimated 8,000 tons of uranium and 40,000 tons of molybdenum.

A view shows a board with the logo of Russian atomic energy agency Rosatom during the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 19, 2025.

“The development of the Shirondukuyskoye deposit is an important stage in the development of Russia’s uranium mining industry,” Rosatom’s mining division said in a statement. “Its mineral resource base will not only support planned uranium production volumes but also ensure the long-term development of Krasnokamensk.”

The initiative is part of Rosatom’s broader strategy to enhance domestic uranium production. Russia currently ranks as the world’s sixth-largest uranium producer and relies on imports, primarily from Kazakhstan, to meet its needs. Rosatom aims to increase its annual uranium output from 2,796 tons in 2024 to 4,000 tons by 2030. The Shirondukuyskoye deposit, alongside the nearby Argunskoye and Zherlovoye deposits, is expected to contribute an additional 2,000 tons of uranium per year once operational.

Rosatom is also working to expand the role of nuclear energy in Russia’s energy mix. The company projects that nuclear energy’s share will rise from 20% today to 25% by 2045, reflecting a commitment to sustainable energy development. The Shirondukuyskoye project is anticipated to strengthen the regional economy in Krasnokamensk while supporting Russia’s long-term energy goals.