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Paladin granted mining license for Malawi uranium project

Malawi’s Mining and Energy Ministry has granted uranium miner Paladin a mining licence for the Kayelekera uranium project, clearing the way for construction to start.
The Malawian government has granted Paladin a mining licence, covering 55,5 km² over a period of 15 years, after which the licence would be renewable for a further ten years, the company said this week.

Commissioning at Kayelekera was scheduled for September 2008 and full productconcrete portable crushing machinesion, some 3,3-million pounds of U₃O₈, was expected to be reached in the second quarter of 2009.

The company reported that iron dressing from iron ore plant designthe selection of the engineering, procurement and construction manager was at an advanced stage and that the mining contractor tender was at the final stages of rused track crusher for saleeview.

“Commencement of construction of the Kayelekera uranium project marks a highly auspicious moment in the development of Paladin towards becoming a major uranium sstone crusher plants from europe supplier to the global markets,” MD John Borshoff said.

Paladin would spend $185-million on building the project. The major portion of the capital small concrete batch plant price expenditure had been raised through its $250-million convertible bond raising, which was carried out in December.

The company said that the banking syndicate that provided project debt finance for the Langer Heinrich uranium project, in Namibia, was expected to provide a similar debt-funding package for Kayelekera.

Further, Paladin said that it would start exploration to extend the project life beyond the 11 years as stated in the bankable feasibility study. Paladin holds exploration properties around Kayelekera, which covers 1 140 km².

Paladin expects to produce in the order of 31-million pounds of uranium by 2012 from Langer Heinrich and Kayelekera and, using a price forecasting of $90/lb, the total revenue generated during the period woudl be in the order of $2,8-billion.

http://www.ubcc.se/2012/12/paladin-granted-mining-license-for-malawi-uranium-project/

December 15, 2012 - Posted by arclight2011 | Uncategorized