Paladin Energy
Encyclopedia
Paladin Energy Ltd., formerly Paladin Resources Limited is Australia's second biggest sole uranium mining
company behind Energy Resources of Australia
, which is majority owned by mining giant Rio Tinto
. It is headquartered in Perth
, Australia
.
The main focus of Paladin is the identification and development of uranium deposits in Australia
and overseas. Paladin has control of two of the most advanced uranium mines in Africa
. Its Langer Heinrich Mine started producing yellowcake
in late 2006; it currently produces 3.7Mlb per year. The Kayelekera Mine in Malawi
achieved commercial production in July 2010.
, gold
, base metals copper
, platinum
, and diamonds. Uranerz eventually lost interest in its Australian operations and when they packed up John Borshoff acquired their significant database. He then formed Paladin in 1993 and he listed the company on the Australian Securities Exchange and the Toronto Stock Exchange.
mine in the northern district of Karonga
in Malawi
and has been accused of exploiting workers. Malawian workers have accused them of grossly unequal pay between Malawian workers and expatriate workers. The company was awarded a 15 year contract and are only reimbursing the Malawi government 15% and received a resource tax break and corporate tax break. A community based organization has petitioned the Malawi government to have access to information that will enable them to monitor mining activities for compliance with fundamental human rights (including health risks) and labor standards. The Karonga Natural Resources Development Committee chaired by Geoffrey Du Mhango
was charged with overseeing the infrastructure and environmental impact being as a result of a uranium mining. Karonga.. Serious public concern was first brought to light by a 2006 paper published by researcher Martin Mkandawire entitled, ‘‘The Kayelekera uranium mining activity: Economic benefit and environmental dangers’’. During the time of the negotiations the Minister of Energy and Mining was Henry Chimunthu Banda
and the Minister f finance, Goodall Gondwe..
Uranium mining
Uranium mining is the process of extraction of uranium ore from the ground. The worldwide production of uranium in 2009 amounted to 50,572 tonnes, of which 27% was mined in Kazakhstan. Kazakhstan, Canada, and Australia are the top three producers and together account for 63% of world uranium...
company behind Energy Resources of Australia
Energy Resources of Australia
Energy Resources of Australia Ltd is a public company based in Australia. It is a subsidiary of the Rio Tinto Group which owns 68.4% of the company. The chairman is David Klingner and chief executive officer is Harry Kenyon-Slaney....
, which is majority owned by mining giant Rio Tinto
Rio Tinto Group
The Rio Tinto Group is a diversified, British-Australian, multinational mining and resources group with headquarters in London and Melbourne. The company was founded in 1873, when a multinational consortium of investors purchased a mine complex on the Rio Tinto river, in Huelva, Spain from the...
. It is headquartered in Perth
Perth, Western Australia
Perth is the capital and largest city of the Australian state of Western Australia and the fourth most populous city in Australia. The Perth metropolitan area has an estimated population of almost 1,700,000....
, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
.
The main focus of Paladin is the identification and development of uranium deposits in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
and overseas. Paladin has control of two of the most advanced uranium mines in Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
. Its Langer Heinrich Mine started producing yellowcake
Yellowcake
Yellowcake is a kind of uranium concentrate powder obtained from leach solutions, in an intermediate step in the processing of uranium ores. Yellowcake concentrates are prepared by various extraction and refining methods, depending on the types of ores...
in late 2006; it currently produces 3.7Mlb per year. The Kayelekera Mine in Malawi
Malawi
The Republic of Malawi is a landlocked country in southeast Africa that was formerly known as Nyasaland. It is bordered by Zambia to the northwest, Tanzania to the northeast, and Mozambique on the east, south and west. The country is separated from Tanzania and Mozambique by Lake Malawi. Its size...
achieved commercial production in July 2010.
History
Paladin's history can be traced back to 1970 when Uranerz (Germany) set up operations. The company was interested in uraniumUranium
Uranium is a silvery-white metallic chemical element in the actinide series of the periodic table, with atomic number 92. It is assigned the chemical symbol U. A uranium atom has 92 protons and 92 electrons, of which 6 are valence electrons...
, gold
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
, base metals copper
Copper
Copper is a chemical element with the symbol Cu and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is soft and malleable; an exposed surface has a reddish-orange tarnish...
, platinum
Platinum
Platinum is a chemical element with the chemical symbol Pt and an atomic number of 78. Its name is derived from the Spanish term platina del Pinto, which is literally translated into "little silver of the Pinto River." It is a dense, malleable, ductile, precious, gray-white transition metal...
, and diamonds. Uranerz eventually lost interest in its Australian operations and when they packed up John Borshoff acquired their significant database. He then formed Paladin in 1993 and he listed the company on the Australian Securities Exchange and the Toronto Stock Exchange.
Criticism
Paladin Energy has a uraniumUranium
Uranium is a silvery-white metallic chemical element in the actinide series of the periodic table, with atomic number 92. It is assigned the chemical symbol U. A uranium atom has 92 protons and 92 electrons, of which 6 are valence electrons...
mine in the northern district of Karonga
Karonga
Karonga is a township in the Karonga District in Northern Region of Malawi. Located on the western shore of Lake Nyasa, it was established as a slaving centre sometime before 1877. As of 2008 estimates, Karonga has a population of 42,555.-History:...
in Malawi
Malawi
The Republic of Malawi is a landlocked country in southeast Africa that was formerly known as Nyasaland. It is bordered by Zambia to the northwest, Tanzania to the northeast, and Mozambique on the east, south and west. The country is separated from Tanzania and Mozambique by Lake Malawi. Its size...
and has been accused of exploiting workers. Malawian workers have accused them of grossly unequal pay between Malawian workers and expatriate workers. The company was awarded a 15 year contract and are only reimbursing the Malawi government 15% and received a resource tax break and corporate tax break. A community based organization has petitioned the Malawi government to have access to information that will enable them to monitor mining activities for compliance with fundamental human rights (including health risks) and labor standards. The Karonga Natural Resources Development Committee chaired by Geoffrey Du Mhango
Geoffrey Du Mhango
Dr. Geoffrey L du Mhango is a Malawian economist, author, and politician. He was born in Karonga in the northern part of Malawi.He worked as a Senior development economist at the African Develompent Bank in South Africa and for the ministry of foreign affairs in Malawi...
was charged with overseeing the infrastructure and environmental impact being as a result of a uranium mining. Karonga.. Serious public concern was first brought to light by a 2006 paper published by researcher Martin Mkandawire entitled, ‘‘The Kayelekera uranium mining activity: Economic benefit and environmental dangers’’. During the time of the negotiations the Minister of Energy and Mining was Henry Chimunthu Banda
Chimunthu Banda
Henry Chimunthu Banda is a Malawian politician from Chipembere Village, in Nkhotakota. He is the current speaker of house for the Malawi parliament and National Assembly of Malawi...
and the Minister f finance, Goodall Gondwe..
Corporate Governance
- Rick Crabb – Chairman - Non-Executive (Legal/Corporate)
- John Borshoff – Managing Director/CEO (Technical/Commercial)
- Sean Llewelyn – Director - Non-Executive (Commercial/Finance)
- Donald Shumka – Director - Non-Executive (Finance)
- Peter Donkin - Director - Non-Executive (Finance)
- Philip Baily - Director - Non-Executive (Technical)
- Gillian Swaby – Company Secretary (Corporate)
- Garry Korte – Chief Financial Officer (Finance)