There is more uranium traveling around than I realized…

"Goldman Sachs will wind down its small uranium trading business after failing to find a buyer and may sell its Colombian coal mine subsidiary, two of its most controversial commodity divisions, according to a Senate report released on Wednesday (Nov. 19).

It included a lengthy summary of Goldman's activities in the niche uranium market, which began when it bought Nufcor from Constellation Energy Group in 2009. Goldman and Deutsche Bank had been the only big banks active in the market.

In prepared remarks ahead of a Senate hearing on Thursday, co-head of Goldman Sachs' Commodities Trading Gregory Agran said the uranium business had posed no environmental risks and the bank never took physical possession of the material. "Notwithstanding these various considerations, given the misconceptions about this business, we have decided to manage down Nufcor's assets to zero," he will tell the committee. Due to long-term supply contracts, Goldman will continue selling uranium to one power plant until 2018, according to the Senate report.

Goldman and Deutsche entered the uranium market in 2009, when tightening supplies threatened to send prices soaring before the Fukushima nuclear disaster in Japan. The two would grow to handle almost a third of all uranium trades in the spot market, according to sources. Goldman's trading of yellowcake, enriched [?!? - means concentrated] uranium ore known as U3O8, rose tenfold from 2009 to reach 12.8 million pounds [4,923 t U] in 2013, according to the report. The value of its uranium inventories topped $240 million. (Reuters Nov. 19, 2014 - emphasis added)"

http://www.wise-uranium.org/utiss.html

(archived http://archive.li/Dk6HS)

link to related pic (2012): http://www.mining.com/latin-american-posed-to-be-a-uranium-superpower-10604/