Paladin Energy-Minor Offsite Protest Will Not Disrupt Kayelekera Operations

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Paladin Energy Ltd (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") would like to
advise that operations at its Kayelekera Mine ("KM") in Malawi are proceeding
well and will not be impacted by a proposed demonstration in the nearby town of
Karonga. 


The Company has been informed that two small local non-government organisations,
"Karonga Youth for Justice" and "Karonga Business Community," propose holding a
peaceful demonstration near Karonga during 14-17 November, during which time
they may blockade the M26 Public Highway which is an access route to KM. The
Company has consulted the Malawi Police Force, who advise that any attempt to
block the highway would be unlawful and necessary steps will be taken to ensure
the public access is not restricted. Paladin does not anticipate any disruption
to its operations however it also maintains adequate stocks of diesel and
necessary reagents on site to mitigate the risk of supply disruptions due to
weather or other reasons.


The protest is part of a campaign by a vocal minority which has made non-factual
and misleading claims in respect of the Company's Corporate Social
Responsibility ("CSR") undertakings to the community. Such claims include
assertions that Paladin imports rice to feed its workforce rather than buying
locally, which it does not; and that the Company discriminates against local
suppliers in food tendering. This is definitely not the case as 23 local groups
- including nine widows' co-operatives - supply food to the Kayelekera
Operations. Paladin regards this as one of its success stories in CSR and
currently, 70 per cent of all Kayelekera food is sourced from within Malawi. 


In fiscal year 2012 Paladin contributed US$48M overall to local suppliers and
paid US$9.6M in various forms of taxes to the Government of Malawi. 


Paladin has responded publicly and in detail to these numerous claims made via
various websites, however it is regrettable that the two NGOs persist in their
erroneous and misleading assertions. Paladin has appreciably exceeded its CSR
obligations as defined under the terms of Kayelekera Development Agreement. For
further details of Paladin's extensive CSR programme in Malawi, please refer to
the Sustainable Development section of the Company's 2012 Annual Report, which
also notes the contribution by the Paladin employees through their charitable
foundation which has raised in excess of A$600,000 over the past 5 years to fund
additional educational projects in Malawi. 


The Kayelekera plant continues to run consistently and results of various cost
optimisation efforts are becoming evident with continued improvement expected in
the near term.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Paladin Energy Ltd
John Borshoff
Managing Director
+61-8-9381-4366


Paladin Energy Ltd
Greg Taylor
Investor Relations Contact
416 605 5120 (Toronto)
greg.taylor@paladinresources.com.au
www.paladinresources.com.au

(TSXV:KM)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024