Thursday, December 20, 2012

Gloomy times: Australia’s uranium companies, like Paladin


Given a downturn in nuclear reactors globally, the oversupply and stockpiling of uranium in Japan and the launch of new uranium mining projects in Canada, there is little evidence to indicate any meaningful revival in the uranium price.

Paladin’s continuing failings a warning for small uranium miners

November 22nd 2012 by Mia.Pepper The Conservation Council of WA has been following the activities of Perth based uranium miner Paladin in collaboration with a number of other environmental NGO’s and social justice groups globally. In consultation with local groups in Malawi and Namibia, where Paladin have operating mines, we have prepared a number of questions that we will be asking at their Annual General Meeting on the 22nd November 2012.

CCWA are concerned that Paladin’s proposed cost cuts will exacerbate existing problems at the company’s mines in Africa. Given the poor economic climate for uranium mining and with some indication from the board that the company is in trouble – we are concerned that the company may abandon projects in the future with no compensation or effective clean up of their existing mine sites.