Online mining news website, www.kitco.com, has revealed the Minister of Natural Resources, Energy and Mining, Binton Kutsaira, has written to Paladin Energy, asking for more information on the mine projects and prospects before it is granted consent on the sale.

In June this year, it was announced that Paladin Energy Limited wished to sell its 85% stake in the Kayelekera uranium mine to Hyle Metals, a subsidiary of Lotus Resources. According to a statement released by Paladin, Kayelekera will be sold for $5 million, comprising $200,000 in cash and $4.8 million in Hylea shares to be issued to Paladin. This will include $1.8 million upon completion, which is subject to a 12-month voluntary escrow, as well as $3 million on the third anniversary of completion.

Months later, the Ministry of Mines, before granting the sale of the mine, has asked for the provision of further tax reporting information, corporate social responsibility and environmental assurances and responses to labour-related queries, among others. In July, Paladin Energy’s Chief Executive Officer Scott Sullivan said that it the sale of the mine will bail the company from financial turmoil, as the company has been struggling.