Does Russia Really Own 20% Of The US’ Uranium Reserves?

Oilprice.com ^ | 07-05-2015 | nuclearpower

[Opintel]

Yes, well, sort of – and they have for some time now. It’s relatively old news, but a recent Times report and an upcoming book from the Hoover Institute’s Peter Schweizer have refocused attention on a 2008 blockbuster uranium deal involving Russia, the United States, and a Canadian company Uranium One. Pushing connections and presidential candidacies aside – the Clintons’ complicity is still very much speculation at this point – lets return to the deal and take a look at the US nuclear industry and, globally, the rise of Rosatom.

The saga begins in 2009 when, after roughly a year of negotiations, Russian state nuclear corporation Rosatom, acting though its subsidiary and Mining Division platform ARMZ, purchased a nearly 20 percent stake in Toronto-based Uranium One. The following year, ARMZ increased its stake to more than 51 percent – a deal that required Kazakh and Canadian regulatory approvals in addition to clearance by the US Committee on Foreign Investment. In 2013, ARMZ paid roughly $2.8 billion for the remaining 48 percent and full control of Uranium One. Finally, in that same year, Rosatom assumed direct ownership of the company, reorganizing it under Uranium One Holding (U1H) and delisting it from the Toronto stock exchange.

[dp0622]

Well I know Ralph and Norton own the rights to Uranium in Asbury Park...