This is one to watch.
Tomorrow morning, 17 June 2015, ActionAid Malawi will launch a study report on Paladin Africa Ltd, a subsidiary of ASX-listed Paladin Energy, and its mining operations in Malawi. The event will take place at Crossroads Hotel in Lilongwe and starts at 9am.
Paladin Africa Ltd operates Malawi’s largest mining project, Kayelekera Uranium Mine, in northern Malawi. However, in February 2014, the company announced that production would be suspended at the mine due to the ongoing low prices of uranium oxide. Production will recommence once 1) the mine is connected to Malawi’s national electricity grid and 2) the price of uranium oxide reaches approximately USD75/lb.
According to ActionAid’s Country Director, Martha Khonje,
Under this study, ActionAid focused on the operations of this company and particularly how it negotiated harmful tax incentives and used tax planning that facilitated tax avoidance. The report estimates that since Paladin started its operations, Malawi has lost…
View original post 165 more words