[miningmx.com] – AUSTRALIAN-listed Paladin Energy is to sell a quarter of its stake in the Langer-Heinrich uranium mine in Namibia to China National Nuclear Corporation, said Bloomberg News.
Cash from the sale would be used to cut Paladin Energy’s debt, the newswire agency said, citing comments by John Borshoff, CEO of Paladin Energy, in a company announcement.
The “cash injection from this minority interest sale will largely be applied to debt reduction, which the board considers an essential step during a time of unprecedented low uranium prices,’ said Borshoff. “This will help stabilise the company.”
Click here to read the full article
