Paladin Africa Ltd

Paladin (Africa) Ltd Paladin (Africa) Ltd is a member of the Paladin Energy Ltd group of companies and is the corporate entity that holds the groups interest in the Kayelekera Mine. The Malawi Government holds a 15% shareholding in this company. Background The Kayelekera Mine (KM) is located in northern Malawi, 52km west (by road) of the provincial town of Karonga at the northern end of Lake Malawi, and 575km by road north of the capital city, Lilongwe. The Central Electricity Generating Board of Great Britain (CEGB) discovered the high grade Kayelekera sandstone uranium deposit in the early 1980s. CEGB spent US$9 million working on the project over an 8-year period, culminating in a full feasibility study in 1991 assessing the viability of a conventional open pit mining operation. This study indicated that the project was uneconomic using the mining model adopted and the low uranium prices prevailing at that time. The project was abandoned in 1992 due largely to the po...