LONDON Jan 8 Toronto-listed miner Uranium One
UUU.TO said on Tuesday it plans to invest in a Russian
sulphuric acid plant as a backup to secure supply.
"We intend to invest in a plant in Russia as a source of
secure supply should there be another disruption in Kazakhstan,"
chief executive Neal Froneman told Reuters in an interview.
"That plant can be refurbished and in production within
about 18 months," he added.
The acid shortage in Kazakhstan, due to a delay in the
commissioning process of a copper smelter, prompted the Canadian
uranium miner to slash its production outlook in October 2007.
The company now expects to produce 2.1 million pounds of
uranium this year and 4.6 million pounds in 2008.
(Reporting by Anna Stablum, editing by Michael Roddy)