"The signing of this document ensures a multi-faceted approach to developing aspects of atomic energy in Mongolia," the head of Russian state nuclear corporation Rosatom, Sergei Kiriyenko, was quoted by Interfax as saying.

"Mongolia has decent reserves of natural uranium. I think they are more than officially registered, over 100,000 tonnes," he said.

The signing came during a visit by Mongolian Prime Minister Sanj Bayar, who was due to meet President Vladimir Putin, the Kremlin said.

Friday's agreement focused on prospecting, extraction and processing of uranium, an area where Russia is a major player.

On Thursday Rosatom quoted Kiriyenko as saying Russia was already carrying out feasibility studies for the construction of a small or medium-sized nuclear power plants in Mongolia.

Russia has long-standing ties with Mongolia and Russian corporations are pushing to develop coal mining projects in the country, a point noted by the Kremlin.

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