Uranium plays dismiss ownership fears

Paladin Energy and Deep Yellow have taken to the ASX to hose down media speculation that the Namibian government may look to up its stake in upcoming projects. 

The comments came from the Perth-based companies in response to a media article indicating the government of Namibia may look to take a stake in mining and petroleum companies operating in the country. 

"Paladin has regular ongoing dialogue with all relevant Namibian government ministries as it progresses with the restart of mining activities at the Langer Heinrich Mine," a statement from the company read. 

"The company confirms that it is not aware of any imminent proposed Namibian legislative changes that would affect the ownership of the Langer Heinrich Mine, in which Paladin holds a seventy-five per cent interest."

Langer Heinrich is Paladin's flagship projected situated in the Namib Desert, with the company currently working on a restart plan. 

"The restart of the Langer Heinrich Mine is on target for first production in Q1 CY2024 and through our local content procurement policy, the company is pleased to provide economic and employment opportunities to Swakopmund and the surrounding communities."

Deep Yellow, led by former Paladin boss John Borshoff, issued a similar response in regard to the three projects in which it has an interest, also in Namibia. 

"Deep Yellow, through its extensive experience operating in Namibia, has deep confidence that the Namibian government fully understands the value of foreign investment," the company said. 

"Deep Yellow interracts constantly with relevant government ministries and departments and advises that is is not aware of any elevated discussions with industry regarding government equity in mining projects."