Meet Frank Giustra, Mining Magnate and Clinton Chum

Posted on Jan 31, 2008

news.bbc.co.uk

The name Frank Giustra may not ring any bells with those outside the international mining industry, but Thursday’s New York Times brings Giustra (pictured with Clinton) out of relative obscurity into sharp focus with its startling report about the Canadian entrepreneur, who boldly inserted himself into the uranium business in Kazakhstan (!) and into Bill Clinton’s inner circle.

The New York Times:

Unlike more established competitors, Mr. Giustra was a newcomer to uranium mining in Kazakhstan, a former Soviet republic. But what his fledgling company lacked in experience, it made up for in connections. Accompanying Mr. Giustra on his luxuriously appointed MD-87 jet that day was a former president of the United States, Bill Clinton.

Upon landing on the first stop of a three-country philanthropic tour, the two men were whisked off to share a sumptuous midnight banquet with Kazakhstan’s president, Nursultan A. Nazarbayev, whose 19-year stranglehold on the country has all but quashed political dissent.

Mr. Nazarbayev [President Nursultan A. Nazarbayev] walked away from the table with a propaganda coup, after Mr. Clinton expressed enthusiastic support for the Kazakh leader’s bid to head an international organization that monitors elections and supports democracy. Mr. Clinton’s public declaration undercut both American foreign policy and sharp criticism of Kazakhstan’s poor human rights record by, among others, Mr. Clinton’s wife, Senator Hillary Rodham Clinton of New York.

Within two days, corporate records show that Mr. Giustra also came up a winner when his company signed preliminary agreements giving it the right to buy into three uranium projects controlled by Kazakhstan’s state-owned uranium agency, Kazatomprom.

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