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Canada approves Paladin uranium control

Australia’s Paladin Energy has been given the nod by Canadian regulators to develop the Michelin project in Newfoundland and Labrador, and potentially become the first foreign company to have majority ownership of a uranium mine in the North American country.

Under Canada’s current non-resident ownership policy, foreign companies can own 100% of an exploration project but, by the stage of first production, there must be at least 51% Canadian resident