Press "Enter" to skip to content

More Reason to Oppose Black Hills Uranium Mining: Chinese Investment

A Hot Springs neighbor Mary Helen Pederson sends the following call for action against the proposed Powertech uranium mine in the southern Black Hills.

“Understand that our rights in the U.S. are only as strong as how well we protect them for the weakest people among us- children, immigrants, the elderly, those in poverty and so forth.” ‘Ann-Nora Hirami

Now that we are living under the dictatorship of corporations, our rights have been taken away from us, and now we are letting foreign corporations come in and take our natural resources away from us also. ” It is all about the water!”

In-sit-u mining is basically the same as fracking for oil, only for solid, instead of semi-solid or liquid. They both use huge amounts of water and the water that is returned is no longer “clean”. Read “Gone For Good: Fracking and Water Loss in the West.” at www.worc.org. And while you are at it also read “Undermined Promise.” from the same web site. Then see if you believe all of the song and dance show that Powertech has put on.

Get involved, go to meetings, read everything, not just one side. Watch movies that expose these corporations that have taken over control of our lives. Emulate our soldiers that have fought for our freedom. Don’t miss the big show downs at the Ramkota in Rapid city this fall starting at 8:30 am on September 23rd. And continuing, same time, same place on October 7th.

Mary Helen Pederson, Hot Springs, SD [letter to the editor, submitted 2013.07.28]

Pederson may want to call all the louder when she reads that Canadian mining company Powertech is becoming more Chinese. The company announced Thursday that Hong Kong-based Azarga Resources Limited is buying 17.5% of Powertech's stock and forming a "strategic alliance" with Powertech. The deal "will provide enhanced access and exposure" to Asian markets, says Powertech president/CEO Richard Clement.

In other words, Azarga will help Powertech send South Dakota's uranium to China.

Azarga also wants Colorado's uranium. The Hong Kong traders are buying 60% of Powertech's Centennial Project in Weld County, Colorado. This buy complements Azarga's big January purchase of Black Range Minerals stock, which gives them an interest in the Hansen/Taylor Ranch uranium project.

Our state leaders are sacrificing our property rights and environmental security to the dictatorship of foreign corporations to ship Canadian oil to China. Do we really have to make the same devil's deal to send our uranium to Asia as well?

6 Comments

  1. Donald Pay 2013.08.03

    Azarga seems to be a very sketchy corporation. It is headed by Alexander Molyneux, who has been based in Hong Kong for at least 11 years. The company also owns majority interest in a huge uranium mine in Tagikistan. A bio I found says he worked for Citigroup as head of investment banking sections dealing with minerals and mining corporations.

    What I've seen indicates Azarga bought out Powertech's Centennial Project, which was defunct. So, Powertech's future now rests entirely on the money from Chinese investors, probably the billionaires created through the Chinese government's state owned enterprises (SOEs). However, it could also rest with Citigroup, since Azarga's only named principal, Alexander Molyneux, served as a managing director, head of metals and mining investment banking, Asia Pacific, at Citigroup. Molyneux, according to a bio, "has spent about a decade providing advice and investment-banking services to mining, metals and industrial corporations. He joined Citigroup from UBS in early 2007 as head of metals and mining investment banking, and he has been working with Asia-based clients since 2002. He advised on many key M&As in the metals and mining sector."

  2. interested party 2013.08.03

    DD's trip to China looks more and more like collusion with Communists: even Cuba has a South Dakota connection. If he was a Democrat the SDGOP would be having a hemorrhage.

  3. Donald Pay 2013.08.03

    Azarga's Molyneux quoted on another project they just became involved with: "We are keen on helping market Ablation to China National Nuclear, who operate the largest uranium mine in China."

    http://seekingalpha.com/instablog/959816-peter-epstein/2031422-peter-epstein-of-au-wire-com-exclusive-interview-with-alex-molynuex-of-azarga-resources

    China National Nuclear is one of China's state owned enterprises. Although it may have some private capital invested in it, the controlling interest of all SOEs resides with the Chinese government. CNN has interests not only in civilian nuclear enterprises, including uranium mining, but also in production of nuclear weaponry.

  4. caheidelberger Post author | 2013.08.04

    ...and it's that connection to a nation manufacturing nuclear weapons that makes Azarga's control of Powertech more alarming than the typical corporate takeover, right, Donald?

  5. Donald Pay 2013.08.08

    An interesting article in the New York Times on another China SOE being fleeced by a private mine operator in a manner that seems almost Powertech-like.

    http://www.nytimes.com/2013/08/08/business/global/mine-deal-puts-new-scrutiny-on-chinas-state-industries.html?_r=1&

    You have to wonder how Powertech pulls off these international scams. Synatom was a European concern that itself is or is part of an SOE. Powertech scammed Synatom out of millions. Now it may have gotten Azarga with links to a China SOE on the hook for millions by selling off nearly worthless resources, allowing it to maybe continue with permitting its mine in South Dakota.

Comments are closed.