US approval a step toward Russian company control of Wyoming uranium mines

[Paslode]

http://www.theblaze.com/stories/russ...uranium-mines/

The Nuclear Regulatory Commission has approved the license transfer of two Wyoming mines to a Russian company, despite concerns over national security raised by local and national government officials including senior House Republicans.

From the Telegram:

Two uranium mines in Wyoming are on their way to control by a Russian company now that the Nuclear Regulatory Commission has approved transferring the mines’ licenses.

The NRC last week approved the license transfer to a Russian company known as ARMZ which expects to obtain a controlling interest in Canadian-owned Uranium One by year’s end. Uranium One holds the licenses for a proposed uranium mine and an existing uranium mine in northeast Wyoming.

The approval comes despite concerns from local and national lawmakers. Bother groups worry that Wyoming’s uranium could in theory go overseas and serve against U.S. interests.

“The administration must maintain rigorous oversight of this project and ensure this transaction does not undercut America’s national or energy security,” Sen. John Barrasso, R-Wyo., said through a spokeswoman Tuesday.

In October, four U.S. House members sent a letter to Treasury Secretary Timothy F. Geithner to block the sale of the two Wyoming mines, citing national security concerns. According to the Wyoming Business Journal, “the sale would give the Russians control of up to 20 percent of the U.S. national uranium extraction capability along with a controlling interest in one of the nation’s largest uranium mining sites.”

The Republican representatives who sent the letter inclue: Rep. Ileana Ros-Lehtinen of Florida (the ranking minority member of the House Foreign Affairs Committee); Rep. Spencer Bachus of Alabama (the ranking minority member of the House Financial Services Committee); Rep. Peter T. King of New York (the ranking minority member of the House Homeland Security Committee), and Rep. Howard P. “Buck” McKeon of California (the ranking minority member of the House Armed Services Committee).

Both Republicans Sen. Mike Enzi and Rep. Cynthia Lummis, from Wyoming, expressed concerns and promised to keep an eye on the deal, the Associated Press reports. In response, the NRC said the Russian company would have to apply for a special license to export uranium.

Still, exporting is possible, and considering the ownership make up of Uranium One and ARMZ, any national secuirity concerns are not unfounded. According to World Nuclear News, Russia’s state nuclear corporation Rosatom received “356 million common shares in Uranium One” in a recent deal. And the Gillette News Record reports ARMZ is “controlled by” Rosatom.

Why should that cause concern? According to the Record, Rosatom “has provided Iran with uranium in the past.”

“The NRC paperwork states that the transfer means the Russian president and the government of the Russian Federation have the power to direct corporate policy and therefore direct activities under the NRC license and license applications for the Wyoming facilities,” the Record says.

These ties make a recent warning from Russian President Vladamir Putin even more ominous. Speaking with Larry King on Wednesday, the Russian leader advised the U.S. “don’t interfere either [with] the sovereign choice of the Russian people”:

“When we are talking with our American friends and tell them, there are systemic problems in this regard, we can hear from them ‘Don’t interfere with our affairs. This is our tradition and it’s going to continue like that.’ We are not interfering,” he said. “But to our colleagues, I would also like to advise you, don’t interfere either [with] the sovereign choice of the Russian people.” [Emphasis added]

[drymartini66]

And the stupidity continues...

[dr. mabuse]

*

[GratefulCitizen]

Most of the uranium produced in the world comes from Canada, Australia, Kazakhstan, and Russia.
Preventing their investment here won't keep uranium out of their hands.

The US runs a trade deficit importing oil.
Russia runs a trade surplus exporting oil.

So the federal reserve prints some dollars.
We trade those dollars for oil, and use the oil.

Some of those dollars end up in the hands of Russians.
Those Russians invest those dollars in mining operations here in the US.

We got the oil, we got investment in this country, and we probably got some jobs out of it.
Russia got some dollars printed by the fed.

How is this a bad deal?

[wet dog]

There are three major suppliers of "all" Uranium in the world.

In order are (1) Canada, (2) Australia, and (3) Russia.

Typically, before a power plant is built, investors want no less than, 10 year supply of Uranium per power plant.

China is currently scheduled to build more nuke power plants than all other countries worldwide conbined over the next 25 years. In doing so, they have secured all the Uranium needed, for all new power plants that will be running for the next 100 years.

Let me say that again, Canada will be the primary supplier of Uranium to China for the next 100 years.

A subsidiary company has partnered with Russia to export Wyoming Uranium.

The United States of America has still chosen not to build new nuke power plants.

Does anyone want to guess how this plays out?

[Brush Okie]

Originally Posted by wet dog

The United States of America has still chosen not to build new nuke power plants.
t?

Actually the US has been rethinking this stratigy and may be building a nuke plant as a location near you.........MAY being the key work.

[wet dog]

Originally Posted by Brush Okie

Actually the US has been rethinking this stratigy and may be building a nuke plant as a location near you.........MAY being the key work.

I would take that as good news. BHO campaigned/debates that we would do such a thing. I've felt a 180 degree turn has been present.

[Brush Okie]

Originally Posted by wet dog

I would take that as good news. BHO campaigned/debates that we would do such a thing. I've felt a 180 degree turn has been present.

It was coming around before the obama fiasco. The green freaks are starting to come around to the idea. I am not sure where things stand since the nuclear repisotory fiasco happened.

[Paslode]

Originally Posted by Brush Okie

Actually the US has been rethinking this stratigy and may be building a nuke plant as a location near you.........MAY being the key work.

I do some work for a nuclear engineer from time to time. Back in 07 he told me the US had 40 some nuclear facilities planned and ready to go for the US, McCain even mentioned building 40 some nuclear facilities during his campaign. But as the engineer mentioned whether or not they got built depended on who won the Presidential Election. Like oil and many other industries, investors a reluctant to invest for fear of having the Government yank the proverbial rug from under their feet.

No what does or doesn't happen , the US will have another problem and that is producing the materials to build such plants being that the majority of those industries have been shipped to China.

From what I have been told Black & Veatch is doing most of it's business in China building Coal Plants and Nuclear Plants....but we can't build them here because of all the regulations.

[1stindoor]

On the plus side of all of this the lakes that are used for cooling usually produce bigger bass as they have a longer growth period due to the warmer water.

[Richard]

ATOMREDMETZOLOTO

http://www.armz.ru/eng/

World Uranium Mining

Since the early 1990s the uranium production industry has been consolidated by takeovers, mergers and closures. In 2009, ten companies marketed 89% of the world's uranium mine production:

Company - %

• Areva - 17
• Cameco - 16
• Rio Tinto - 16
• KazAtomProm - 15
• ARMZ - 9
• BHP Billiton - 6
• Navoi - 5
• Uranium One - 3
• Paladin - 2
• GA/Heathgate - 1
• Other - 11

http://www.world-nuclear.org/info/inf23.html

Richard

[dr. mabuse]

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[wet dog]

#1.) Take the time to read the attached article(s) ... read this one first, IT IS
one of the BEST I've read yet on URANIUM PRICE-SPIKES ( and CURRENT):
http://www.MarketOracle.co.uk/Article21157.html

#2.) Search for "Uranium Price Spike" HERE .... good education.

... and for further uranium-industry educational purposes:

#3) CAMECO of CANADA (biggest annual mined Uranium Co.) here: http://www.cameco.com/

5.) CAMECO's 2009 Annual Shareholder's report on this page:
http://www.cameco.com/investors/

[GratefulCitizen]

Uranium prospectors have been popping up in Fredonia for awhile.
I think Denison Mines has one going right now, or will soon.

Had a few other mining customers receiving deliveries over the past few years.
One of them shut down due to BLM (or some other bureaucracy) red tape.

He had permits to prospect in a particular area, and was ready to go.
When he was ready to start, suddenly there was a restriction that he could only do it on foot.

No motor vehicles would be allowed.
He had a full set up to haul around in a new Rokon, sidecar, and trailer.

The effects of low-pressure Rokon tires would have been less than that of wildlife or cattle.

Your tax dollars at work: preventing industry and commerce.

[Paslode]

Originally Posted by GratefulCitizen

Your tax dollars at work: preventing industry and commerce.

Sad but so true.