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Gold/Mining/Energy : kazakstan goldfields symbol kgfc
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To: roger fontaine who wrote ()11/17/1997 6:26:00 PM
From: Jesse   of 367
 
Fin Times says Kazakhstan a minefield for investors

World Wide Minerals Ltd
WWS
Shares issued 53154225
1997-11-14 close $0.4
Monday Nov 17 1997
Also Cameco Corporation (CCO)
The Financial Times of London reports in its Monday edition that president
Nursultan Nazarbayev of Kazakhstan arrived in Washington on Sunday for
meetings with president Bill Clinton and v-p Al Gore amid accusations that his
country has reneged on privatization contracts. Washington reporter Nancy Dunne
says that World Wide Minerals and Nuclear Fuel Resources claim they have lost
millions of dollars because of Kazakhstan's failure to honour contractual
obligations. Cameco of Canada and Uranerz of Germany have also reportedly
had contracts cancelled after investing together in Kazakh uranium mining. Placer
Dome, a Canadian gold company, had difficulty getting US$35 million refunded
on a mine that was inoperable, because it depended on unreliable Russian energy.
In the end, it settled for US$25 million. World Wide Minerals says that
Kazakhstan encouraged it to first develop northern uranium deposits before being
allowed to invest in more lucrative uranium mines in southern Kazakhstan.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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