Paladin not aware of any Namibian legislative changes
Alex Gluyas Paladin Energy has confirmed it is not aware of any imminent proposed Namibian legislative changes that would affect the ownership of its 75 per cent-owned Langer Heinrich mine.The company noted commentary regarding a potential desire for the Namibian government to own a minority equity interest in mining and petroleum companies operating in Namibia.The reports caused Paladin’s share price to sink 20 per cent on Wednesday, before its shares were halted.“Paladin has regular ongoing dialogue with all relevant Namibian government ministries as it progresses with the restart of mining activities at the Langer Heinrich mine,” the company said in a statement.Paladin said the restart of the Langer Heinrich mine is on target for first production in the first quarter of next year.
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