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.

the processing plant at Paladin Energy's Kayelekera mine in Malawi source: Paladin Energy

the processing plant at Paladin Energy’s Kayelekera mine in Malawi
source: Paladin Energy

Kayelekera Uranium Mine, Karonga, Malawi (Credit -Paladin Energy Ltd)

Kayelekera Uranium Mine, Karonga, Malawi (Credit -Paladin Energy Ltd)

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.

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Benjones
Guest

Malawi has become a laughing stock. Pls pepo wake up to save out mother land from these green and red card holders.

choka phiri
Guest

Is Malawi selling country and resources to foreign countries? During Kamuzu NO foreign investors owned The whole company. This is what it is in Arab countries. If Malawians could invest the money They stole in industriries instead of mansions. One day their houses will be vacant NO One to rent. If economy continue to fall like it is to dag.

Alex Likoswe
Guest

Government should keenly follow this issue. Any farm out transaction, govt should tax

Kenkkk
Guest
I am not surprised with this. Remember the huge tonnes of so called samples that went to China for testing. Why go to China if the mine is owned by an Australian company and uranium being a very sensitive mineral in terms of security and potential nuclear arms use? Were the Chinese testing the quality and quantities of uranium in Karonga so that they could take it over by buying paladin out? Also is this connected to heavy Chinese grants and loans coming to Malawi through shady dpp govt dealings with the uranium as collateral? And it is the south,… Read more »
Concerned
Guest

Whatever

Lord of darkness
Guest
I don’t believe this refutal,daily times and the whole times media group are competent professionals and are a trustworthy news source,at least to me, and if you look at that story they covered it comprehensively,interviewing all and sundry including the PS for energy,they even cross checked with what the company is doing in other countries of which it seems its similar to what is happening in Malawi,all their operations are on care and maintenance. and to show that Times media group are really professionals they clearly stated at the end of the story that they were unable to talk to… Read more »
snelia
Guest

We can smell something here,if indeed they didn’t sale it maybe they have rented it to Chinese company.Our journalists are not mad and they weren’t mad before that they can wake up and cook a story that never happened in our society or country .

Ma
Guest

Who is fooling who here

callen
Guest

ATI Bill needs passing!

wpDiscuz

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