Kazakhstan in the person of NAC Kazatomprom finally won anti damping investigation about uranium

18.07.02 00:00
/IRBIS, July 18, 02/ - National atomic company Kazatomprom CJSC (NAC Kazatomprom, Almaty), whose bonds are traded in Kazakhstan stock exchange's (KASE) trade lists under "A" category, informed KASE Kazakhstan in the person of NAC Kazatomprom won the trial on antidumping investigation with American corporation USEC, and as the result of this, all restrictions for trading with Kazakhstan uranium in the UAS have been removed. It is said in the press-release that in 1991 the Government of the USA, being beware that mass sales of cheap uranium by CIS countries will cause the loss of control over the market, and, protecting interests of uranium Producers in the USA, began antidumping investigation. Within the period of the investigation (since November of 1991) import of uranium from the countries of former USSR to the territory of the USA was entirely prohibited. After the USSR break-up antidumping sanctions were automatically were extended to all CIS countries. In 1992 countries of European Union also joined the system of sanctions. These measures were the system of quotes and setting of special prices (including prices for services isotopic enrichment), which were in the average (since 1991 till 2000) lower by 20% than world prices. In October of 1992 the Government of Kazakhstan and US Department of Commerce "The agreement about interruption of antidumping investigation on uranium from Kazakhstan", that allowed to supply uranium to US market at free prices and quotes determined by the Agreement. Terms of deliveries were reexamined several times by US Government, quotes were changed from 1.2 to 1.65 thousand tons. In 1998 in accordance with the fact that world prices for uranium fell below the prices fixed in the agreement of 1995 ($12 per pound UO2 or $29.4 per kilogram), quotation of export of Kazakhstan uranium was interrupted. In November of 1998 The US Department of Commerce resumed the antidumping investigation, and as a result of it, in July of 1999 it was decided that Kazakhstan uranium sales do not bring harm to economics of the USA. All restrictions for Kazakhstan uranium import were removed, but since December of 1999 producers of the USA solicited the Department of Commerce two times in order to resume the trial. The both times NAC Kazatomprom won the case in the Court of International Trade of the USA. In May of 2001 US uranium Producers appealed to appellate court. By today, the antidumping process has come to the end. [2002-07-18]