ASX-listed Paladin Energy has completed the divestment of its 85% stake in the Kayelekera asset, in Malawi, reducing the company’s forecast capital expenditure by around $5-million a year.
Kayelekera was idled in 2014 on the back of low uranium prices. The project includes a 1.5-million-tonne-a-year processing facility and is estimated to host some 28.7-million pounds of uranium oxide.