https://newsletter.mw.creamermedia.com
Energy|Innovation|Mining|SECURITY
Energy|Innovation|Mining|SECURITY
energy|innovation|mining|security

Paladin gets security review notice from Canada on Fission Uranium deal

2nd October 2024

By: Reuters

  

Font size: - +

Australia's Paladin Energy said it has received a notice from a Canadian ministry ordering a national security review of its acquisition of Canadian uranium explorer Fission Uranium for C$1.14-billion.

In June, the Australian uranium producer had announced it had entered an agreement to acquire Fission Uranium for an implied equity value of C$1.14-billion, following which shares of the company would be listed on the Toronto Stock Exchange.

Paladin is awaiting a final court order and clearance under the Investment Canada Act (ICA) to move ahead with the proposed acquisition.

The court decision relates to the legal proceedings brought forward by CGN Mining Company, which owns 11.26% stake in Fission, in relation to opposing the approval for the agreement.

"Accordingly, consideration of the arrangement (proposed deal) under the ICA has been extended and remains ongoing," the company said in a statement on Wednesday.

Paladin said it is considering the Canadian Minister of Innovation, Science and Industry's notice, exploring its available options and evaluating the prospects of obtaining ICA clearance in respect of the deal.

Edited by Reuters

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.101 0.209s - 143pq - 2rq
Subscribe Now