Debt-troubled Paladin Energy has started discussions with some of its stakeholders and convertible bond holders about the looming deadline for a $US212 million repayment, as a cloud hovers over the company's planned sale of a stake in its Langer Heinrich uranium mine to meet those repayments.
Debt-laden uranium miner Paladin Energy has struck agreements to sell an interest in two of its projects, with total proceeds expected to be $US205 million ($A275 million).
SPECIAL REPORT: The dramatic rise and fall of iron ore producers and the recent surge in gold and lithium stocks have been highlighted by a historic review of WA's major listed companies.
Programmed Maintenance Services is among five companies to be added to the S&P/ASX200 in changes to the market indices set to occur after market close on December 18.
The median salary paid to chief executives at Australian mining companies fell by 12 per cent over the past two years, and is set to decline further after recent cost-cutting moves by the likes of BC Iron, Sundance Resources, Paladin Energy and Poseidon Nickel.
Woodside Petroleum's ambitious play for Oil Search is a rare example of a Perth-based company being the bidder in a big takeover. Click through to see Business News' listing and analysis of $1 billion-plus M&A deals in WA over the past 20 years.
Paladin Energy has announced more cuts to its board and head office staffing, with long-serving executive Gillian Swaby following managing director John Borshoff out of the business as it works to stay afloat in the weak uranium market.
Paladin Energy's Kayelekera uranium mine in Malawi suffered minor storm damage on Monday night when it was hit by a 20-minute, high-intensity downpour.
The tougher business climate has prompted some WA companies to cut executive salaries, but most have held the line and some have even awarded pay rises.
Paladin Energy has launched a $205 million recapitalisation plan, designed to fund it until midway through 2016, which has won the backing of China-focused private equity firm HOPU Clean Energy.
Shares in struggling uranium miner Paladin Energy fell 5 per cent at the close of trading today after it announced that production for the September quarter could suffer a further 7.5 per cent shortfall.
Uranium mining is a challenging business at the best of times, but the current abundance of oil and gas is making life even harder for companies such as Paladin Energy.
Paladin Energy has backed its decision to place its Kayelekera uranium plant on care and maintenance in February and says the market fundamentals needed to restore it to economic production are now heading in the right direction.
In November 2008, the newly installed state Liberal government officially dropped Western Australia's ban on uranium mining, paving the way for the development of a new sector.
Perth-based Paladin Energy has settled the sale of a 25 per cent stake in its flagship Langer Heinrich uranium mine in Nambia, under a deal originally announced to the market in January this year.
FEATURE: An investment in each of the 10 largest capital raisings by companies in Western Australia during 2013 would be 14 per cent underwater at current prices, according to research conducted by Business News.
Paladin Energy has placed its Kayelekera mine in Malawi on care and maintenance, saying operations at the mine are no longer sustainable in light of the depressed uranium market.
Paladin Energy managing director John Borshoff says the company's $US190 million sale of a minority stake in its Langer Heinrich mine vindicates a decision to walk away from sale negotiations last year.
Uranium miner Paladin Energy's stock has lifted on the ASX after the company announced it had refinanced its debt facilities for its Langer Heinrich and Kayelekera projects.
Paladin Energy managing director John Borshoff has announced strong interest in the long-running sale of a minority stake in its Langer Heinrich uranium mine in Namibia.
Perth-based Paladin Energy is persisting with negotiations on the sale of a minority stake in its Langer Heinrich uranium mine in Namibia, and has assured shareholders it will give them an update by the end of the month.
Pay cuts, some up to 50 per cent, were the order of the day in the Business News quarterly CEO salary survey, but not all companies have been on trend.
The past year has been tough for listed WA companies looking to raise funds but a lift in activity during the past three months has the industry cautiously optimistic.
Paladin Energy is set to slash its costs by $US23 million over the 2014 financial year and suspend all non-essential exploration activity as it looks to stem losses from a weakening uranium price.
Business News for Western Australia. Friday August 2. Jessica Taylor reports. Mike Nahan praises gas reforms. Federal budget takes $33bn hit. Paladin Energy cancels mine sale.
Once seen as an attractive capital source for Australian companies, regulatory hurdles in Canada combined with depressed global markets have dampened enthusiasm for dual listings.
Fresh from announcing plans to develop the Iron Valley mine in the Pilbara, Mineral Resources has become the eleventh Western Australian company in the S&P/ASX 100 Index.
Uranium miner Paladin Energy has reported a half year net loss of $US193.5 million, with a number of large write-downs and impairments souring a record half year combined production result.
