Paladin to drill in Canada

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Paladin Energy can now start exploring its Canadian assets, after a three-year moratorium on uranium mining was lifted by indigenous landowners.

The Africa-focused uranium miner on Monday said the work ban on uranium projects in Inuit-administered lands in Labrador had been removed, as was flagged in December.

Five of the Perth-based company’s six deposits in Canada, acquired through the takeover of Aurora Energy, lie within this area.

Paladin said in a statement that drilling was expected to start in the September quarter, focusing on the Michelin deposit.

Shares in Paladin were up six cents, or 3.36 per cent, at $1.845 at 1309 AEDT, compared to losses in the broader market of about 0.2 per cent.