Paladin Energy aims to crack uranium big league with Canadian takeover
Paladin would churn out 10% of global uranium output after combining production of its Namibian mine with Fission’s Canadian project.
South African officials have seized 2.2 pounds of uranium along with 90 ecstasy tablets from two young men attempting to sell the items in Durban.
The uranium was confirmed as such by the South African Nuclear Energy Corporation (NECSA), which claims the substance is unlikely a product of Africa.
“Yes it is uranium and the tests suggest that it must have come from a country that is dealing with some uranium enrichment at the moment, very very unlikely (in) Africa,” said NECSA spokesman Elliot Mulane.
The uranium is 0.38 percent made up of the U-235 isotope, “well below the average 0.7% U-235 found in natural uranium and the 90% level needed to be considered weapons grade,” AFP reports.
An international investigation into the trafficking is now underway and will target major uranium enrichment countries such as China, Iran, Japan, North Korea and the US.
