Paladin is setting up the Kayelekera uranium project in Karonga in northern Malawi, with operations set to begin in mid-2008.Details of the project are subject to commercial confidentiality, but the opposition is reportedly (eds The Nation newspaper) pushing the government to disclose more of the deal struck between the Malawi executive and the Australian company.
Mines, Energy and Natural Resources minister Henry Chimunthu Banda told parliament that the government would hold 15 per cent of the project's shares and there would be one local representative on the four-member board steering the mining project.
The minister said Kayelekera will increase Malawi's gross domestic product by more than ten per cent, in a nation where GDP per head is just $US596 ($A767).
Source: theage.com.au
Tags: southern African | northern Malawi | Kayelekera | Karonga | Dowa | Uranium | project | Government | Victoria | Stuff | Perth | money | malawi | Lilongwe | Africa
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