Malawi losing $millions due to its poor uranium deal with Paladin Energy
Malawian dies on duty at Kayelekera Uranium Mine in Karonga, By Nyasa Times Reporter July 31, 2013
| “………The tragic incident has cast a shadow over the company which is already facing mounting criticism following reports the country was losing out from the favourable tax regime agreed with the company by the former administration of late President Bingu wa Mutharika. |
Last week, the United Nations’ Special Rapporteur on the Right to Food, Olivier de Schutter, also reiterated that Malawi was losing out due to tax incentives given to Paladin……..
As a result of tax incentives, one estimate suggests that Malawi may lose between US$ 205 million and US$ 281 million over the 13 years of the project.
But the current government of Joyce Banda has indicated it has started negotiations with the company to have the agreement reviewed. http://www.nyasatimes.com/2013/07/31/malawian-dies-on-duty-at-kayelekera-uranium-mine-in-karonga/
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