Goldman Sachs and Deutsche Bank sitting on 5,000 tonnes of raw uranium

David Sheppard, “INSIGHT-Goldman puts ‘for sale’ sign on Iran’s old uranium supplier,” Reuters, 11 February 2014

  • In 2009, Goldman bought firm that once sold Iran uranium
  • Goldman sitting on $200 million stockpile of yellowcake
  • Deutsche Bank holds similar inventories of the fuel

… The details of how Iran received yellowcake from NUFCOR were uncovered for the first time by Professor Gabrielle Hecht of the University of Michigan, while she did archival research at the company’s old headquarters near Johannesburg.

“Yellowcake can be bought and sold without any significant international controls,” Hecht told Reuters.

“The nuclear industry has been campaigning for decades to banalise uranium and make it appear like just any other commodity, but it should be subject to much stronger oversight.”

Filings with UK authorities and nuclear industry sources say the two banks’ combined stockpiles of uranium are valued at more than $400 million, or around 5,000 tonnes of yellowcake. That would be enough to fuel 20 standard nuclear power plants for a year, or, uranium experts say, to build 200 nuclear bombs.

Read the full article here.