[miningmx.com] – PALADIN Resources MD, John Borshoff, said placing the Kayelekera uranium processing plant in Malawi on care and maintenance amid tough market conditions for the mineral was the correct decision.
Speaking to the African Down Under conference delegates, Borshoff said there were already signs that the uranium market was recovering.
“The global spot market fundamentals for uranium are improving, and the term market contract volumes are already triple that of the entire 2013 calendar year,” Borshoff said.
“What we face is that the long term market demand fundamentals for uranium require extraordinary growth in uranium supply and that favours a restart of our Malawi plant,” he added.
