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Paladin Energy Plans to Expand its Operating Uranium Mines and Adds Resources
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Paladin Energy is positioning itself to become a leading uranium producing company. The company is a mineral resource based company, with special focus on uranium exploration and mining. Paladin Energy has recently entered into the uranium mining sector and commenced its commercial operations in uranium production in the year 2007. The company is planning to acquire top uranium company status through its strategy of organic growth from long-term uranium production plans and by way of mergers and acquisitions. The company currently has mining assets in Namibia and Malawi and exploration properties in Australia. Paladin Energy has acquired new properties in Queensland province in Australia with its acquisition of Fusion Resources, and has recently announced its plans for increasing production from its current target of 3,275 tU by 2012 to 5,313 tU by 2014 from its currently operational Langer Heinrich and Kayelakeera mines in Africa. To fund the company’s expansion strategy, Paladin Energy also completed private offerings worth $ 369.6 million in September 2009.
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