Goldman, Deutsche Bank looking to sell uranium ops

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

Goldman Sachs (GS) and Deutsche Bank (DB) are looking to exit an area of operations that not that many people know they're involved in: trading supplies of raw uranium, which is also known as yellow cake.

Between them, the companies have built up stockpiles of low-grade uranium larger than those held by Iran.

However, with scrutiny of banks' physical-commodities trading increasing and uranium demand low following the Fukushima disaster, the firms are looking to sell their uranium trading desks.

Australian bank Macquarie (MCQEF) is reportedly interested in Goldman's operations, which are called NUFCOR.