Paladin’s Uranium Deal Signals M&A Push for Rich Canadian Deposits
- CEO says rationale to buy Fission Uranium is ‘very compelling’
- Takeover will give Paladin control over Saskatchewan project
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Paladin Energy Ltd.’s C$1.14 billion ($833 million) offer to buy Canadian mining firm Fission Uranium Corp. is all about geography.
The all-stock deal will give Australia’s Paladin operational control of one of the most advanced mining projects in western Canada’s Athabasca Basin, a remote area in Saskatchewan that’s loaded with high-grade uranium. Fission’s asset is expected to open in 2029 and produce an annual average of 9.1 million pounds of the metal over a decade.