Paladin to proceed with potential sale of West Namibia mine

Company News

by Jessica Amir

Paladin Energy Limited (ASX:PDN) has announced it will proceed with the potential sale of its 75% stake in the Langer Heinrich Mine.

It comes as the uranium production company made the decision to allow China National Nuclear Company (CNNC) to start the process of valuing its stake in the mine, in West Namibia. 

The assessment is the first step of CNNC potentially buying Paladin’s interest, in the open pit mine.

The valuation will be performed by an independent international investment bank and is expected to take 5-6 weeks.

Shares in Paladin Energy Limited (ASX:PDN) are still in suspension.
 

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