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9. Uranium trade and foreign investment issues

Nuclear Monitor Issue: 
#778
Uranium Mining Issues: 2013 Review
13/02/2014
Article

Uranium trade:
− In October the first shipment of Canadian uranium arrived in China.
− In May, it transpired that Cameco saves taxes by selling its uranium through its Swiss subsidiary; in September, Canada's government accused Cameco of a multi-million dollar tax dodge; Cameco has publicly estimated that it could end up owing CDN$800−850 million in Canadian corporate taxes for the years 2008 to 2012.
− India is close to importing uranium from Uzbekistan.
− India has to purchase nuclear reactors from Russia and other foreign countries in order to get uranium from these countries, according to the director of the Bhabha Atomic Research Centre.
− In September, Canada's nuclear sales treaty with India came into effect, under which Canadian uranium producers will be able to export to India.
− In November, Russia sent the last shipment of uranium downblended from Russian nuclear weapons material for use in U.S. reactors under the "Megatons to Megawatt" program concluded in 1993.

Proliferation issues and uranium trafficking:
− Australia's agreement to sell uranium to India could include weaker monitoring safeguards than the nuclear deals Australia has with other countries.
− In South Africa, two suspects were arrested for possession of uranium which they tried to sell in Durban.

Foreign exploration and mining investment and cooperation:
− German banks are still financing uranium mining projects, in spite of promises to the contrary: a review commissioned by German NGO Urgewald shows that between March 2011 and January 2013, Deutsche Bank provided financing to Areva and Rio Tinto, while UniCredit/HBV provided financing for Areva and BHP Billiton.
− Deutsche Bank's ailing Uranium Exploration Index Certificate was among the winners of the award for the most dangerous financial products, a competition launched by Member of European Parliament Sven Giegold.
− Japan and Uzbekistan announced to conduct joint uranium exploration in Uzbekistan; Japanese JOGMEC received a uranium exploration license in the Navoi region.
− Uruguay seeks public-private partnerships for the development of uranium mining.
− Egypt invited Russia to join nuclear power plant and uranium mining projects.
− Areva is considering "uranium processing" in Tajikistan, according to the Tajik Main Geological Administration chief.
− Mongolia and Mitsubishi are to take a stake in Areva's Mongolian uranium mining subsidiary.