Shares in Paladin Energy have risen eight per cent after the Africa-focused uranium miner announced it will save more than $67 million after refinancing its debt facility.

Paladin said finance facilities for the Langer Heinrich uranium mine in Namibia and its Kayelekera mine in Malawi had both been refinanced, leading to a $US59 million reduction in debt repayments over the 2014/15 calendar years.

Paladin said the agreements with its lenders would provide significant cash flow benefits to both projects and leave it in a much stronger financial position.

The company said annual principal repayments across both projects would be reduced from $US53.8 million per annum to $US18.3 million per annum in 2014.

In the 2015 calendar year annual principal repayments will be reduced by a further $US23.7 million.

Shares in the company were four cents, or eight per cent, higher at 53.5 cents at 1420 AEDT.

Paladin is looking for a buyer for a minority stake in its Langer Heinrich uranium mine in Namibia to improve its balance sheet, following a $40 million loss in the September quarter.