Free Republic

Late on Sept. 6, 2005, a private plane carrying the Canadian mining financier Frank Giustra touched down in Almaty, a ruggedly picturesque city in southeast Kazakhstan. Several hundred miles to the west a fortune awaited: highly coveted deposits of uranium that could fuel nuclear reactors around the world. And Mr. Giustra was in hot pursuit of an exclusive deal to tap them. Unlike more established competitors, Mr. Giustra was a newcomer to uranium mining in Kazakhstan, a former Soviet republic. But what his fledgling company lacked in experience, it made up for in connections. Accompanying Mr. Giustra on his...

Here's a fascinating politics/energy/international relations story that's flying below the radar now, but feels as though it could get huge. The news starts with Uranium One (UUU), a Toronto-listed uranium miner, whose shares plunged 38% on news that the Kazakhstan government was probing whether certain Kazakh mines it owns were acquired illegally. Specifically, it's looking at potentially illegal asset sales by Mukhtar Dzhakishev, the former head of state-owned uranium miner Kazatomprom, who later sought favors from the man who sold the assets to, Frank Giustra, and Bill Clinton. Reuters: [O]ne deal in question was the sale of a 30 percent...