Paladin denies sale of Malawi mine to Chinese: Daily Times story incorrect

Australia’s uranium miner, Paladin Energy has refuted a report that appeared in the Daily Times newspaper of Malawi that it had sold all or part of its Kayelekera Mine in Karonga. [caption id="attachment_99773" align="alignright" width="600"] the processing plant at Paladin Energy's Kayelekera mine in Malawi
source: Paladin Energy[/caption] [caption id="attachment_99774" align="alignright" width="600"] Kayelekera Uranium Mine, Karonga, Malawi (Credit -Paladin Energy Ltd)[/caption] The newspaper reported that Paladin has divested of an interest in its Kayelekera mineto the China National Nuclear Corporation. But the company in a statement made available to Nyasa Times said there has been no change in its ownership of the Kayelekera mine. “The article incorrectly asserts Paladin has sold all or part of its 85 per cent interest in Kayelekera mine to China National Nuclear Corporation,” the company said in a statement. “Paladin wishes to point out that there has been no change in its ownership of the Kayelekera mine in Malawi.” Kayelekera Mine was placed into care and maintenance in May last year because of the weak uranium price “A restart of the Kayelekera mine under favourable uranium market conditions would have the potential to quickly expand Paladin’s overall production by in excess of 40 per cent,” Paladin said.