U.S. Supreme Court Rejects Suit against Kazakhstan's Uranium Firm

Canadian World Wide Minerals lose its final appeal through the U.S. judicial system against the Kazakh uranium producer.

WASHINGTON, March 12 - The U.S. Supreme Court on February 25 threw out a $1billion suit by a Canadian group against Kazatomprom, one of the world's 10 leading uranium producers, the Kazakh firm said March 5.

Canada's World Wide Minerals (WWM) had its suit against Kazatomprom rejected by a lower court and appealed the decision to the U.S. Supreme Court, which turned it down, interfax.com reported.

Kazatomprom said that WWM "committed serious offenses against Kazakh legislation and failed to fulfill its commitments under agreements with Kazakhstan."

Kazatomprom, Kazakhstan's monopoly uranium export and import operator, produces 5% of the world's uranium. It brought its uranium output to 2,850 tons in 2002, from 794 tons in 1998.

###