The sale of Paladin Energy’s Kayelekera mine stake to the China National Nuclear Corporation has been the subject of speculation in the past six months. Now the Australian domiciled entity has clarified the issue. Kayelekera Mine is in northern Malawi.
Due to low uranium prices, Paladin Energy placed Kayelekera Mine on care and maintenance in May 2014. In a statement the company said it would resume production once it was certain that the situation had improved. It also stated that plans to increase capacity by 40% were dependent on this.