Government has given consent to Paladin to sell off all its 85 per cent shares in Kayelekera uranium mine in Karonga.
Peter Chilowomanga, deputy director of mines in the ministry of Energy, Mines and Natural Resources has confirmed that his ministry and the ministry of Finance and Economic Planning have given a go ahead to Paladin to sell off the shares to another Australian mining firm, Lotus Natural Resources Limited.
“Our laws do not bar companies from selling shares in their companies. The government is convinced that the sell of the mine will turn around the company for the benefit of the people and the government,” he said.
Paladin unceremoniously stopped mining activities at Kayelekera in 2014 after uranium prices slumped on the world market.
But mining activist Kossam Munthali has accused the government of lacking transparency in the way it gave consent to Paladin to sell off the shares.
He said there were no consultations on the matter, saying even the Karonga district council was kept in the dark on the matter.Follow and Subscribe Nyasa TV :