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uranium-one-transaction — Part 01

21 pages · May 13, 2026 · Broad topic: General · Topic: uranium-one-transaction · 21 pages OCR'd
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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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