Paladin Energy gets green light from federal government to take over Fission Uranium
A major acquisition in Canada’s uranium sector is going forward after getting approval from the federal government.
Paladin Energy Ltd., which is headquartered in Perth, Australia, has been given the green light to take over Kelowna, B.C.-based Fission Uranium Corp., which has been developing its Patterson Lake South Project (PLS) in northern Saskatchewan’s Athabasca basin. The mine there is set to begin production in 2029.
The acquisition of Fission Uranium was valued at $1.14 billion when first announced this past summer and the combined entity now has a market cap of about three billion Australian dollars. “We’re really pleased and quite excited to have completed all of the processes,” Paladin Energy chief executive Ian Purdy said.
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