Paladin Energy
| Public (ASX: PDN)(: PDN) | |
| Industry | Energy, Mining |
| Founded | 1993 |
| Headquarters | Perth, Western Australia |
|
Key people
|
Alexander Molyneux, CEO |
| Products | Uranium |
| Revenue |
 $11.2 Million USD (2007) |
| Website | www.paladinenergy.com.au |
Paladin Energy Ltd is a Western Australian based uranium production company.
It currently has two operating mines in Africa, the Langer Heinrich mine (LHM), in Namibia, and the Kayelekera mine (KM), in Malawi. Paladin is listed on the Australian Securities Exchange (ASX), Toronto Stock Exchange (TSX) and Namibian Stock Exchange (NSX) under the symbol PDN. The Company also trades on the Munich, Berlin, Stuttgart, and Frankfurt Exchanges under the symbol PUR. It also owns deposits in Western Australia.
Uranerz Australia started operations in Perth, Western Australia, in 1970 with Mr.John Borshoff, Paladin’s Managing Director/CEO, serving as Chief Executive from 1986 to 1991. Uranerz, the Australian arm of German-based uranium mining house Uranerzbergbau, explored throughout Australia, New Zealand, and Africa, focusing primarily on uranium. When Uranerz decided to close its Australian operations, John Borshoff acquired its extensive proprietary databases, which subsequently formed the nucleus for the public float of Paladin in 1994.
The Company’s uranium projects include Langer Heinrich in Namibia; Kayelekera in Malawi; and Manyingee in Western Australia. Each of these projects had feasibility studies carried out by previous owners during the 1980s, and Paladin secured them at low cost during the depressed uranium market.
Paladin has augmented its resource base in Australia through the acquisition of Valhalla Uranium Pty Ltd, whose primary assets are the 50% joint venture interests in the Valhalla and Skal deposits near Mount Isa in Queensland and 41.71% ownership of the Bigrlyi deposit in the Northern Territory.
Paladin also has an 82.08% controlling interest in Summit Resources Limited, Valhalla’s joint venture partner at Mount Isa and the holder of other promising exploration titles in the region.
In February 2008, Paladin, in conjunction with joint venture partner Cameco, were selected from a highly competitive field to explore the Angela and Pamela deposits located approximately 25 km south of the town of Alice Springs in the Northern Territory. Following successful completion of 2 drilling programmes, an updated Mineral Resource estimate was completed by the JV partners in July 2011.
In February 2009, Paladin completed the takeover of Fusion Resources, adding the Duke Batman and Honey Pot deposits to the existing Mount Isa project area. The capacity of the LHM operation has been successfully expanded to a production rate of 5.2Mlb per annum.
In 2012, Paladin joined forces with Rio Tinto to block the sales of BHP Billiton’s Australian uranium deposit to Canadian mining company, Cameco.
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Wikipedia