Australian uranium company Paladin will now have to give Malawi a fair deal
Malawi to renogotiate with Paladin on the Kayerekera uranium deal http://www.malawitoday.com/news/128733-malawi-renogotiate-paladin-kayerekera-uranium-deal 14 April 2013 ZODIAK RADIO Malawi has finally succumbed to pressure from activists to start re-negotiating with Paladin Africa Limited on the Kayerekera Uranium deal in a last ditch attempt to create a win-win situation.
First on the proposal is to remove the confidentiality clause on the agreement such that it be made public before rectifying other strings within the deal.
Minister of Mines Mr John Bande confirmed that discussions are underway with Paladin Africa Limited on the matter.
“We are working out on modalities to discuss in public the agreement between Kayerekera and the Malawi Government,” said Bande.
Bande blamed the previous regime for putting a confidentiality clause on the license. “Now government is working to remove that clause so that the deal can be discussed in public,” said Bande.
Critics have continuously called on government to re-negotiate the license, saying Malawi is getting a raw deal from it.
Issued in 2009 the Kayerekera uranium mine license is for a period of 15 years and is subject to renewal.
The license among others also allowed the miner to open an off-shore account.
According to the deal, Malawi was meant to be collecting a meager US$ 100 million in taxes annually from the deal.
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