Malawi gives consent to Paladin to sell off Kayelekera uranium mine

Government has given consent to Paladin to sell off all its 85 per cent shares in Kayelekera uranium mine in Karonga.

Paladin 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.

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3 years ago

It’s sad that our country do not want to engage people who are working in ths field who are Malawians. I am always willing to help but greed within our politicians it’s a barrier to scrutinise the contracts that they offer to these big companies. Malawi has got a lot of minerals but we are sleeping with our not well travelled politicians who don’t want the best of our country.

3 years ago

Where is Karonga in all this? — or even Malawi ? All important decisions about the Kayelekera Uranium mine are being made by Western Australian companies among themselves, starting with Paladin. North Malawi and Lake Malawi face a major pollution threat. This is the real face of neo-colonialism today !

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