Paladin Energy Ltd plans to dual list on the Namibian Stock Exchange on February 14, joining fellow Western Australian uranium player Deep Yellow to make the move this year.
Paladin said it had made an application to dual list more than 613 million ordinary securities on the NSX to affirm its commitment to Namibia given its asset base in that country, the Langer Heinrich Uranium Mine.
Home to Rio Tinto's Rossing mine, which supplies eight per cent of the world's uranium, Namibia has attracted many exploration companies, including Bannerman, Extract, Nova Energy, Erongo Energy and Deep Yellow, which listed on the Namibian stock exchange last month.
Paladin said the listing would afford Namibian investors the opportunity to participate in the company's projects in Namibia, Malawi and Australia, and allow Namibian and South African investors and institutions to own PDN shares
Paladin Energy will list on the "Mining" sector of the Main Board of the NSX.
The company has already received the necessary permissions from the Bank of Namibia, the Financial Regulator in Namibia and the listing committee of the NSX.
The listing is scheduled to take place on 14th February 2008 and the sponsoring broker for the secondary listing of
the securities on the NSX will be Windhoek based IJG Securities (Pty) Ltd.
There will be no change to the company's primary listing on ASX, and all trading by investors through the NSX will occur through the ASX.
Situated on the south-west coast of Africa, Namibia is the world's fifth-largest producer of uranium and produces large quantities of diamonds, lead, zinc, tin, silver, and tungsten.
Colonised by Germany and South Africa before gaining independence in 1990, Namibia boasts a democratically elected government, an efficient mining act, a constitution with a bill of rights, and an independent judiciary.
