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Paladin to sell 24% of Langer Heinrich

Uranium producer, Paladin Energy has agreed to sell a 24% stake in its Langer Heinrich mine in Namibia for US$175 million in cash to an, as yet, undisclosed buyer. The company will be left with a 51% stake in the mine once the transaction closes.

Paladin to sell 24% of Langer Heinrich Paladin to sell 24% of Langer Heinrich Paladin to sell 24% of Langer Heinrich Paladin to sell 24% of Langer Heinrich Paladin to sell 24% of Langer Heinrich

An aerial view of the Langer Heinrich uranium mine in Namibia

The company has been aggressively improving its balance sheet, having reduced debt by $81 million to $362 million in February and being cash flow positive on an all-in basis for the year to end-June,