orruption shadow over uranium investment in Kazakhstan

Kazakh ex-uranium boss jailed for corruption, Daily Times , 12 March 2010, ASTANA: A Kazakh court sentenced a former uranium tycoon to 14 years in jail for theft and corruption on Friday in a case that has alarmed foreign investors working in the former Soviet republic. One of Kazakhstan’s most prominent business figures, Mukhtar Dzhakishev was arrested last year on accusations of corruption, theft and illegal sales of uranium assets to foreign companies.The trial was held behind closed doors and involved hearings only into theft and corruption accusations…..
His arrest left Kazatomprom’s foreign partners such as Canada’s UraniumOne worried about the future of their projects. Other investors include France’s Areva and Japanese companies such as Toshiba Corporation.

The case, along with a string of other high-profile arrests in Kazakhstan, the world’s biggest uranium producer, has fuelled speculation of an intensifying power struggle within the political elite………..
Kazakhstan’s authorities have said that the case is part of the country’s broader attempts to root out corruption from its key industries

Daily Times – Leading News Resource of Pakistan – Kazakh ex-uranium boss jailed for corruptionC

Surplus of uranium will result in falling prices

Uranium Will Have 2010 Surplus on Increased Output, Group Says

By Anna Stablum and Lars Paulsson Sept. 10 (Bloomberg) – The uranium market will have a surplus next year for the first time in at least three years as Kazatomprom and other producers increase output faster than demand rises for the nuclear fuel, the World Nuclear Association said.