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uranium-one-transaction — Part 01
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Cast Fowed to Canton Foundarion Amid Rassion Uraniom Deet-N.hurp//www.nytimes.con/0ts/0/4/us/eash-Bowed to-clen-fnat.
under Mrs. Chinton as the American ambassador to Russia but said he had been
unaware of the Uraniun One deal until asked about it. *Do we want Futin to.
have a monopoly on this? Of course we don't. We don't want to be dependent on..
Putin for anything in this climate.
A Seat at the Table.
The path to a Russian acquisition ot American uranium deposits began in
2oos in Kazakhstan, where the Canadian mining hinanciet Frank Giustrx
orchestrated his hrst big uraarum deal, with Mr. Clinton at his side.
The two men had dlown aboard Mr. Giustra's private jet to Almaty
Nazakhstan, where they dined with the authoritarian president,Nursultan A.
Nazarbayey. Mr. Clinton handed the Kazakh president a propaganda coup when
he expressed support for Mr. Naxarbayey's bxid to nead an international elections
monitoring group, undercutting Anerican foreign policy and cxiticism of
Kazakhstan's poor hxman nights record by, annong others, his wife, thea a
Senator.
Within days of the visit, Mr. Giustra's fledgling company, UrAsia Energy
Ltd., signed a preliminary deal giving it stakes in three uranium mines
controled by the state-run uranium agency Kazatomprom.
If the Kazakh deal was a major vietory, Urasia did not wait long before
resuming the hant. In zoo7, it merged with Uranium One, a South African
company with assets in Africa and Australia, in what was deseribed as a $3.5
billion transaction.The new company,which kept the Uraniumn One name, was
controiled by Urasis investors incinding Ian Telfer, a Canadian who became
chairman. Through a spokeswoman,Mr,Giustra,whose personal stake in the
deal was estimated at about $4s million, said he sold his stake in xoo?.
Soon, Uranium One began to snap up companies with assets in the United
States. In April zoo7, it announced the purchase of a uranium mill in Utah and
more than 38,ooo acres of uranium exploration properties in four Western
states, followed quickly by the acquisition of the Energy Metals Corporation and.
its uranium holdings in Wyoming, Texas and Utah. That deal made elexr tbat
Uranium One was intent on becoming *a powerhouse in the United Siates
wranium sector with the xotential to become the domestic supplier of choice for
U.S. utilities,* the company declared..
$/13/20152:27PM
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