Uranium One began to snap up companies with assets in the United States. In April 2007, it announced the purchase of a uranium mill in Utah and more than 38,000 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.
Canadian company Uranium One owned uranium mines in the US and Kazakhstan.
Uranium One’s mines account for 20% of the uranium mined in the US. Uranium is used for nuclear weapons, and it’s considered a strategic asset to the US. Russia is able to own about 20 percent of U.S. uranium production capacity. However, Colin Chilcoat, an energy affairs specialist who has written extensively about Russia’s energy deals, said that the company only extracts about 11 percent of uranium in the U.S.
Russia’s state-owned atomic agency, Rosatom, bought a 17% stake in Uranium One in June 2009.
The Russian atomic agency decided it wanted to own 51% of Uranium One in June 2010. To take a majority stake in Uranium One, it needed approval from a special committee that included the State Department, which Hillary Clinton led at the time.
In January 2013, despite assurances to the contrary, a subsidiary of Rosatom (Russian company) took over 100% of the company and delisted it from the Toronto Stock Exchange.
Her’s the million dollar questions:
- Why wasn’t the media widely reporting this issue.
- Why didn’t the Sec. of State raise this issue loudly?
- Why did Obama sign off on it?
All the other issues are interesting however the above questions should be answered.