viewPaladin Energy Ltd

Paladin inks MOU with CGNPC Uranium Resources


Paladin Energy (ASX:PDN, TSX:PDN) has signed a wide ranging Memorandum of Understanding (MOU) with CGNPC Uranium Resources Co. Ltd (CGNPC-URC), setting a framework of co-operation between the two companies.

The strategic agreement is for long term sales of uranium, potential participation in Paladin’s growth strategies, and possible expansion of joint venture relationships in the Northern Territory with Energy Metals (ASX: EME).

CGNPC-URC, through the subsidiary China Uranium Development Company Limited, holds a 69.34% interest in Energy Metals.

Although this MOU is non exclusive, it provides a further platform from which Paladin can build upon.

John Borshoff, managing director/CEO, said Paladin has a strong project development pipeline and remains the only fully independent publically listed uranium company with a geographically diversified production base.

CGNPC-URC is the wholly owned subsidiary of China Guangdong Nuclear Power Holding Corporation (CGNPC). CGNPC is the premier nuclear utility in China and its reactor build programmes will account for about 50% of China’s anticipated growth in nuclear power to 2020.

CGNPC-URC is a wholly owned affiliate of CGNPC responsible for uranium procurement either through purchase of uranium product or development of new mines.

Quick facts: Paladin Energy Ltd


Price: - -

Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


FTSE takes off ahead of international travel rule changes expected by the UK...

FTSE 100 made a decent start with airlines and travel groups leading the index higher on reports that the UK’s coronavirus travel arrangements will change today. London’s blue-chip index was up 18 at 7,045 in early trades.   UK retail sales recovered from a heavy fall in July but were still...

57 minutes ago

2 min read