Publish Date : 18-Aug-2012
Paladin Energy Ltd. has announced signing a long-term off-take contract (LTC) which underscores the operational capability, which the company has attained in the uranium supply sector.
A uranium production company, Paladin has inked an important six-year off-take deal with a major utility to supply a total of 13.73 million pounds uranium in the period from 2019 to 2024 incorporating a prepayment of $200 million.
Delivery will be carried out from its existing African mining operations or a project which is still to be developed from the company's significant existing project pipeline or may be from a combination of both these options.
Under this LTC, uranium supplied will be further sold at existing market prices at the time of delivery bounded by escalating floor and ceiling prices.
In respect of part of the future product deliveries, not later than January 31, 2013, Paladin will receive the prepayment of $200 million.
Presently, Paladin has its projects in Australia, Canada and two operating mines in Africa.