Foreign takeovers of mining companies have been a touchy topic ever since a wave of deals 18 years ago took out some of the country’s biggest players.

With an expected cost of $343 million, the Madaouela project was poised for development and had started to advance despite the political changes.

The company has a 100% interest in the Charlot-Neely Lake, South Pendleton and Snowbird projects, covering 11,481 hectares. 

Funding was unleashed by legislation, signed by President Joe Biden in May, that also imposed a ban on imports of enriched uranium from Russia.

Melbourne-based L1 Capital’s flagship Long Short Fund is the best performing Australia-based strategy for the last 10 years.

Paladin Energy’s $833 million offer to buy Canadian mining firm Fission Uranium is all about geography.

The deal comes at a time when prices for uranium, used to fuel most of the world's nuclear reactors supplying 16% of the global energy, have increased significantly last year due to rising demand and limited supply.