Uranium miner and developer Paladin Energy has been granted an exemption from Canada’s Non-Resident Ownership Policy (NROP) for its Patterson Lake South (PLS) uranium project in Saskatchewan. The exemption allows Paladin, which is listed on the ASX and TSX, to maintain a 100% controlling interest in PLS as it moves toward commercial production.
The exemption was secured in connection with Paladin’s acquisition of Fission Uranium, which was completed in late December.
Under NROP, foreign companies are typically restricted from owning a controlling interest in commercially producing uranium projects unless they obtain a specific exemption from the Canadian government. The exemption granted to Paladin follows a similar exemption previously obtained for its Michelin project in Labrador in June 2015.
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