Thread: House intelligence committee chair announces a probe into Obama-era uranium deal

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House intelligence committee chair announces a probe into Obama-era uranium deal.


House Republicans investigating Obama-era uranium deal


By Jeremy Herb and Daniella Diaz, CNN
Updated 12:17 PM ET, Tue October 24, 2017

(CNN)House Republicans are launching an investigation into Russia and an Obama-era uranium deal, the intelligence committee's chairman announced Tuesday.

Rep. Devin Nunes said at a news conference that his committee and the House oversight committee are starting the investigation, which will include whether there was an FBI investigation into the matter, and if so, why Congress was not informed. "That will be the start of the probe," Nunes said.

"We're not going to jump to any conclusions at this time," the California Republican continued. "But one of the things that you know that we're concerned about is whether or not there was an FBI investigation. Was there a DOJ investigation? And if so, why was Congress not informed of this matter? So that will be the start of the probe. It will be two different committees looking into this. And we will keep you posted."

http://www.cnn.com/2017/10/24/politi....html?adkey=bn

Uranium One

Industry	Mining
Founded	2005
Headquarters	Toronto, Ontario, Canada
Key people	Chris Sattler (CEO) Vadim Zhivov (President)
Products	Uranium Gold
Number of employees	2,220[1]
Parent	Rosatom
Website	www.uranium1.com

Uranium One is a uranium mining company with headquarters in Toronto, Ontario, Canada. It has operations in Australia, Canada, Kazakhstan, South Africa and the United States.

In January 2013 Rosatom, a Russian State-owned enterprise, through its subsidiary ARMZ Uranium Holding, purchased the company at a value of $1.3 billion.^[2]

Contents

[hide]

• 1History
• 2See also
• 3References
• 4External links

History[edit]

On July 5, 2005, Southern Cross Resources Inc. and Aflease Gold and Uranium Resources Ltd announced that they would be merging under the name SXR Uranium One Inc.^[3]

In 2007 Uranium One acquired a controlling interest in UrAsia Energy,^[4] a Canadian firm with headquarters in Vancouver, from Frank Giustra.^[5] UrAsia Energy has interests in rich uranium operations in Kazakhstan.^[6]

UrAsia Energy's acquisition of its Kazakhstan uranium interests from Kazatomprom followed a trip to Almaty in 2005 by Giustra and former U.S. President Bill Clinton where they met with Nursultan Nazarbayev, the leader of Kazakhstan. Substantial contributions to the Clinton Foundation by Giustra followed, ^[5][7][8] with Clinton, Giustra, and Mexican telecommunications billionaire Carlos Slim in 2007 establishing the Clinton Foundation's Clinton Giustra Sustainable Growth Initiative to combat poverty in the developing world.^[9] In addition to his initial contribution of $100 million Giustra pledged to contribute half of his future earnings from mining to the initiative.^[9]

In June 2009, the Russian uranium mining company ARMZ Uranium Holding Co. (ARMZ), a part of Rosatom, acquired 16.6% of shares in Uranium One in exchange for a 50% interest in the Karatau uranium mining project, a joint venture with Kazatomprom.^[10]

In June 2010, Uranium One acquired 50% and 49% respective interests in southern Kazakhstan-based Akbastau and Zarechnoye uranium mines from ARMZ. In exchange, ARMZ increased its stake in Uranium One to 51%. The acquisition resulted in a 60% annual production increase at Uranium One, from approximately 10 million to 16 million lb.^[11][12]

The deal was subject to anti-trust and other conditions and was not finalized until the companies received Kazakh regulatory approvals,

approval under Canadian investment law,

clearance by the US Committee on Foreign Investments,

and approvals from both the Toronto and Johannesburg stock exchanges. The deal was finalized by the end of 2010.^[12]

Uranium One paid its minority shareholders a significant dividend of 1.06 US Dollars per share at the end of 2010.

ARMZ took complete control of Uranium One in January 2013^[2] in a transaction which was reviewed by the Committee on Foreign Investment in the United States.^[7]

In December 2013 an internal reorganization of Rosatom extinguished the interest of ARMZ making Uranium One a direct subsidiary of Rosatom.<sup>[3]

https://en.wikipedia.org/wiki/Uranium_One</sup>