August 05 2010
Russia will provide South African nuclear power stations with uranium until 2017. The contract was signed in the Kremlin by President Jacob Zuma and his Russian counterpart Dmitry Medvedev. President Zuma is on an official visit to the Russian Federation, looking to narrow the trade deficit with one of the most populous nations in the world. The country’s hoping to build on historical ties with the Russian Federation and the uranium deal is a step in that direction.
Under the deal Russia will control almost half of South Africa’s uranium market, but the world’s 12th largest economy is also an influential member in Bric. And South Africa may have secured the support it needs to gain access to this group which includes Brazil, India and China.
Russian President, Dmitry Medvedev said: “Saying Russia supports the move but that the decision is not Russia alone to make as it depends on other members of Bric
The Russian President says the deal is just the start South Africa’s imports from the Russian Federation more than doubled last year. The country imported goods to the value of R3,6bn, while its exports generated R1,5bn.
Several agreements on energy, visa requirements and space could expedite the cooperation. Eleven government ministers and a high-level business delegation are accompanying the president.
South Africa and Russia already cooperate on a multilateral level. Now they want to use their historical ties to open up markets for increased trade between the two countries.
Source: SABCTV News http://www.sabcnews.com/portal/site/SABCNews/menuitem.5c4f8fe7ee929f602ea12ea1674daeb9/?vgnextoid=4fdb9e807b24a210VgnVCM10000077d4ea9bRCRD&vgnextfmt=default
Russia, South Africa Discuss Potential Nuclear, LNG, Titanium Co-Operation
By Yuriy Humber – Aug 4, 2010
South Africa is discussing how Russia may supply the nation’s nuclear plant with fuel, plug an energy gap with liquefied natural gas shipments, and help process its mineral sands into titanium, Trade Minister Rob Davies said.
The two countries are looking to boost trade and investment as South African President Jacob Zuma leads a delegation of more than 50 politicians and businessmen to Russia this week. South Africa sees mining, energy and transport as areas where ties with Russia can grow, Davies said today in a Moscow interview.
“We see deepening relations with the BRIC countries,” Davies said, referring to Brazil, Russia, India and China, an acronym combining the biggest emerging markets. Trade between Russia and South Africa reached 4 billion rand ($550 million) in 2008, he said.
Tenex, a unit of Russian nuclear holding company Rosatom Corp., is in talks over supplying South Africa’s Koeberg power plant, Davies said. Russia is also interested in being involved should South Africa decide to build more plants, he said.
Russia may also deliver LNG to Mossel Bay, Davies said, without giving further details. PetroSA, South Africa’s state- owned oil company, needs to secure replacement supplies to feed the Mossel Bay refinery as its natural gas reserves dwindle.
South Africa also hopes to use Russian technology to develop a mineral sands deposit that could yield titanium, zirconium and silicon, Davies said. Rare Metals Industries Ltd., a venture with South African, Russian and U.S. investors, said in February it may list shares to fund the $1.5 billion cost of a processing plant needed to turn sands into metal.
