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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.

Mining Journal
An aerial view of the Langer Heinrich uranium mine in Namibia

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, 2016....

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