Market Chatter: Paladin Energy Among Uranium Miners Pressing Canada To Change Cold War Rules
"Two of the world's biggest uranium miners, Rio Tinto PLC and Areva SA, are pressing Canada to change a Cold War era policy that curbs foreign ownership of uranium mines," Reuters reported Sunday.
It reported: "The campaign, backed by the Australian government, two Canadian provinces and Western Australia-based uranium producer Paladin Energy Ltd (PDN.TO), could unlock some of the world's highest-grade ore for development just as demand for the radioactive element looks to surge."
It said: "Unlike Australia, which has no restrictions on uranium-mine ownership, Canada restricts foreign companies from owning more than 49% of any uranium mine. There are no ownership restrictions on foreign participation in exploration."
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