Australia to Mine Uranium in Malawi

Australia to mine uranium in Malawi

LUSAKA, April 5 (Xinhua) — An Australian mining firm has received a license to construct a 185 million U.S. dollars uranium mine project in northern Malawi, according to a report from Blantyre.

A representative of Paladin Africa was quoted as saying in Blantyre Thursday that “yes, we received a license and approval of the environmental impact assessment a week ago and we hope to start mining at the end of 2008.”

Uranium export is expected to earn Malawi 220 million dollars a year, representing about 10 percent of its gross national product and 40 percent of its current export income.

The mine will produce about 1,500 tons of natural uranium oxide annually over the first seven years of its operation.

Paladin Africa is a subsidiary of Australia’s Paladin Resources.

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