Press release from Marketwire
Paladin Energy Ltd: Kayelekera Resumes Full Production
Friday, May 18, 2012
PERTH, WESTERN AUSTRALIA--(Marketwire - May 18, 2012) - Paladin Energy Ltd (TSX:PDN)(ASX:PDN) (Paladin or the Company) is pleased to advise that, as foreshadowed, its Kayelekera Mine resumed 100% operational status as Malawian employees ended industrial action allowing the Thursday night shift to start fully manned. The Company and Local Staff Association (LSA) signed a binding agreement to end the strike yesterday afternoon, facilitating a full return to work by all employees.
Under the terms of the agreement, employees have dropped demands for the 66% salary increase to compensate for the 50% devaluation of the Kwacha. Paladin in turn has agreed to review the local salaries within 6 months determined by the CPI at that time and as affected by the devaluation of the Kwacha.
FOR FURTHER INFORMATION PLEASE CONTACT:
Paladin Energy Ltd In Australia: John Borshoff, Managing Director/CEO +61 8 9381 4366 or Mobile: +61 419 912 571 email@example.com
Paladin Energy Ltd In Canada: Greg Taylor, Investor Relations Contact 905 337-7673 or Mobile: 416 605-5120 (Toronto) firstname.lastname@example.org www.paladinenergy.com.au