PERTH, WESTERN AUSTRALIA, Feb 13, 2008 (Marketwire via COMTEX) -- Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN)(ASX:PDN) is pleased to advise that bank approval has been obtained for the remaining funding component required to develop the Kayelekera Uranium Project in Malawi.
The initial development funding for the project was raised as a component of the US$250M Convertible Bonds issued on 15 December 2006 with an underlying coupon rate of 4.5%, maturing 15 December 2011 and a conversion price of US$7.685 per share.
Paladin has received credit committee approved offers of financing totalling US$167M, consisting of a 7 year Project Finance Facility of US$145M, a Standby Cost Overrun Facility of US$12M and a Performance Bond Facility of US$10M. The facilities are being provided by Societe Generale Corporate and Investment Banking (as intercreditor agent and commercial lender), Nedbank Capital a division of Nedbank Limited (ECIC lender) and The Standard Bank of South Africa Ltd (as ECIC facility agent and lender). Drawdown on the financing is subject to completion of legal documentation and fulfilment of other conditions precedent usual for this type of funding, including approval for an export credit guarantee from The Export Credit Insurance Corporation (ECIC), South Africa's statutory export credit and foreign investment insurance provider.
Paladin is very pleased to be associated with Societe Generale, Nedbank Capital and Standard Bank who provided the project finance for the Langer Heinrich Uranium Project in Namibia and now are involved in the financing of our second project, the development of the Kayelekera Uranium Project in Malawi.
Wednesday, 13 February 2008
Southern Africa: Floods Emergency Appeal No. MDR63001
This Emergency Appeal seeks CHF 11,409,294 (USD 10,332,633 or EUR 7,131,363) in cash, kind, or services to support the Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland, Zambia and Zimbabwe National Societies to assist 30,830 households (154,150 people) for six months.
CHF 1,191,000 was allocated from the Federation's Disaster Relief Emergency Fund DREF) to support this operation. Unearmarked funds to replenish DREF are encouraged.
The National Red Cross Societies of Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland, Zambia are requesting for international assistance through the International Federation of Red Cross to continue with relief assistance to families affected by floods and storms caused by heavy rains since beginning of December 2007. Localised and heavy flooding in Mozambique, Zambia and Zimbabwe destroyed houses, infrastructure, crops and livestock, whilst the situation is worsening in Botswana, Malawi's southern districts and in Namibia's Caprivi region in the north. Zambia's flood zones are also expanding in the Western, North-Western, Eastern and in Lusaka provinces. Destructive storms with heavy rains were experienced Lesotho and Swaziland in early January. It is estimated that a total of 66,830 families have been affected, southern Africa and are in need of relief assistance in the form of shelter, food, clean water and sanitation.
The DREF allocation has been used in initiating relief operations and conducting field assessments. Based on the deteriorating situation, the preliminary appeal is being revised to focus on providing appropriate and timely support in delivering relief assistance: basic non-food relief items, provision of temporary shelter, health, clean water, adequate sanitation and capacity development at National Society and community level.
This operation is expected to be implemented over six months, and will therefore be completed by 31 July. 2008; a Final Report will be made available by October, 2008 (three months after the end of the operation).
The situation
The heavy rains that started in December 2007 in most parts of southern Africa caused rivers to swell, resulting in localised flooding, initially in Zimbabwe, Zambia and Mozambique. In the last two weeks, flooding has been reported in Botswana, Namibia and Malawi, which have been on flood alert since January 2008. Lesotho and Swaziland experienced heavy rains accompanied by destructive hailstorms. The floods have displaced thousand of families and made many homeless. Infrastructure such as roads and bridges have been damage and in some areas communication disrupted. According to figures from the national disaster authorities and the Red Cross National Societies, the cumulative number of affected people is estimated at 64,540 families (322,700 people), with 21,200 families (106,000 people) in Mozambique, 6,500 families (32,500 people) in Zimbabwe and 4,000 (20,000) in both Zambia and Namibia. In Malawi, 27,800 families (139,000 people) have been affected mainly by damage to property and crops.
How we work
All International Federation assistance seeks to adhere to the Code of Conduct for the International Red Cross and Red Crescent Movement and Non-Governmental Organizations (NGO's) in Disaster Relief and is committed to the Humanitarian Charter and Minimum Standards in Disaster Response (Sphere) in delivering assistance to the most vulnerable.
The International Federation's activities are aligned with its Global Agenda, which sets out four broad goals to meet the Federation's mission to "improve the lives of vulnerable people by mobilizing the power of humanity".
Global Agenda Goals:
- Reduce the numbers of deaths, injuries and impact from disasters.
- Reduce the number of deaths, illnesses and impact from diseases and public health emergencies.
- Increase local community, civil society and Red Cross Red Crescent capacity to address the most urgent situations of vulnerability.
· Reduce intolerance, discrimination and social exclusion and promote respect for diversity and human dignity.
CHF 1,191,000 was allocated from the Federation's Disaster Relief Emergency Fund DREF) to support this operation. Unearmarked funds to replenish DREF are encouraged.
The National Red Cross Societies of Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland, Zambia are requesting for international assistance through the International Federation of Red Cross to continue with relief assistance to families affected by floods and storms caused by heavy rains since beginning of December 2007. Localised and heavy flooding in Mozambique, Zambia and Zimbabwe destroyed houses, infrastructure, crops and livestock, whilst the situation is worsening in Botswana, Malawi's southern districts and in Namibia's Caprivi region in the north. Zambia's flood zones are also expanding in the Western, North-Western, Eastern and in Lusaka provinces. Destructive storms with heavy rains were experienced Lesotho and Swaziland in early January. It is estimated that a total of 66,830 families have been affected, southern Africa and are in need of relief assistance in the form of shelter, food, clean water and sanitation.
The DREF allocation has been used in initiating relief operations and conducting field assessments. Based on the deteriorating situation, the preliminary appeal is being revised to focus on providing appropriate and timely support in delivering relief assistance: basic non-food relief items, provision of temporary shelter, health, clean water, adequate sanitation and capacity development at National Society and community level.
This operation is expected to be implemented over six months, and will therefore be completed by 31 July. 2008; a Final Report will be made available by October, 2008 (three months after the end of the operation).
The situation
The heavy rains that started in December 2007 in most parts of southern Africa caused rivers to swell, resulting in localised flooding, initially in Zimbabwe, Zambia and Mozambique. In the last two weeks, flooding has been reported in Botswana, Namibia and Malawi, which have been on flood alert since January 2008. Lesotho and Swaziland experienced heavy rains accompanied by destructive hailstorms. The floods have displaced thousand of families and made many homeless. Infrastructure such as roads and bridges have been damage and in some areas communication disrupted. According to figures from the national disaster authorities and the Red Cross National Societies, the cumulative number of affected people is estimated at 64,540 families (322,700 people), with 21,200 families (106,000 people) in Mozambique, 6,500 families (32,500 people) in Zimbabwe and 4,000 (20,000) in both Zambia and Namibia. In Malawi, 27,800 families (139,000 people) have been affected mainly by damage to property and crops.
How we work
All International Federation assistance seeks to adhere to the Code of Conduct for the International Red Cross and Red Crescent Movement and Non-Governmental Organizations (NGO's) in Disaster Relief and is committed to the Humanitarian Charter and Minimum Standards in Disaster Response (Sphere) in delivering assistance to the most vulnerable.
The International Federation's activities are aligned with its Global Agenda, which sets out four broad goals to meet the Federation's mission to "improve the lives of vulnerable people by mobilizing the power of humanity".
Global Agenda Goals:
- Reduce the numbers of deaths, injuries and impact from disasters.
- Reduce the number of deaths, illnesses and impact from diseases and public health emergencies.
- Increase local community, civil society and Red Cross Red Crescent capacity to address the most urgent situations of vulnerability.
· Reduce intolerance, discrimination and social exclusion and promote respect for diversity and human dignity.
Half Million American Youth Respond to Food Shortages Threatening North Korea, Southern Africa
World Vision's 30-Hour Famine, February 22nd, 23rd
2008 30-Hour Famine Funds Go To Help Flood-Ravaged North Korea, Southern Africa
Devastating floods in North Korea and across Southern Africa are putting millions at risk as critical food shortages loom. Flooding in 11 provinces across North Korea is described as "the worst humanitarian crisis in a decade." August floods there left 300,000 homeless, effectively destroying the year's rice harvest, making chronic food shortages even worse this year.
In Zimbabwe, Zambia, Mozambique and Malawi, floods washed away crops, destroying homes and livestock. Thousands face critical food shortages as food prices skyrocket. Now, by participating in World Vision's 30 Hour Famine, half a million American teens will put a human face on this untold suffering.
Worldwide, 29,000 children will die today of Hunger, Disease and Poverty
Tonight, 850 million people worldwide will go to bed hungry -- that's one out of every six people on earth. 29,000 children die each day from preventable causes like hunger, disease and malnutrition. Chronic poverty, affecting half the people on earth, is the cause. Nearly 3 billion people live on less than $2 a day.
The Cost of Downloading One Song Can Feed a Child for a Day
This February 22nd & 23rd, half a million teens are participating in the 17th annual 30-Hour Famine, forsaking food for 30 hours to get a taste of what the world's poorest children face. Prior to the event, teens raise funds by explaining that $30 a month -- just $1 a day (the cost of downloading one song for an MP3 player) -- can feed and care for a child for 30 days. As they fast, teens consume only water and juice, focusing on local community assistance (food drives, serving in soup kitchens, or homeless shelters).
Where does 30HF money go? This year: North Korea, Malawi and other targeted spots where famine, conflict and other crises make children vulnerable. World Vision has been working in North Korea since 1995, providing food, medicines and clothing. In 1998, work expanded to agricultural and health systems.
Since 1992, students have raised more than $100 million worldwide. In 2007, 30-Hour Famine raised $11.7 million, this year's goal -- $12.5 million. World Vision works in 100 countries, helping approximately 100 million people every year. Visit www.30hourfamine.org or call 800-7-FAMINE for more information.
World Vision hunger experts on North Korea and Malawi are now available for interview.
About World Vision -- World Vision is a Christian relief and development organization dedicated to helping children and their communities worldwide reach their full potential by tackling the causes of poverty. World Vision serves the world's poor regardless of a person's religion, race, ethnicity, or gender. For more information, visit www.worldvision.org.
2008 30-Hour Famine Funds Go To Help Flood-Ravaged North Korea, Southern Africa
Devastating floods in North Korea and across Southern Africa are putting millions at risk as critical food shortages loom. Flooding in 11 provinces across North Korea is described as "the worst humanitarian crisis in a decade." August floods there left 300,000 homeless, effectively destroying the year's rice harvest, making chronic food shortages even worse this year.
In Zimbabwe, Zambia, Mozambique and Malawi, floods washed away crops, destroying homes and livestock. Thousands face critical food shortages as food prices skyrocket. Now, by participating in World Vision's 30 Hour Famine, half a million American teens will put a human face on this untold suffering.
Worldwide, 29,000 children will die today of Hunger, Disease and Poverty
Tonight, 850 million people worldwide will go to bed hungry -- that's one out of every six people on earth. 29,000 children die each day from preventable causes like hunger, disease and malnutrition. Chronic poverty, affecting half the people on earth, is the cause. Nearly 3 billion people live on less than $2 a day.
The Cost of Downloading One Song Can Feed a Child for a Day
This February 22nd & 23rd, half a million teens are participating in the 17th annual 30-Hour Famine, forsaking food for 30 hours to get a taste of what the world's poorest children face. Prior to the event, teens raise funds by explaining that $30 a month -- just $1 a day (the cost of downloading one song for an MP3 player) -- can feed and care for a child for 30 days. As they fast, teens consume only water and juice, focusing on local community assistance (food drives, serving in soup kitchens, or homeless shelters).
Where does 30HF money go? This year: North Korea, Malawi and other targeted spots where famine, conflict and other crises make children vulnerable. World Vision has been working in North Korea since 1995, providing food, medicines and clothing. In 1998, work expanded to agricultural and health systems.
Since 1992, students have raised more than $100 million worldwide. In 2007, 30-Hour Famine raised $11.7 million, this year's goal -- $12.5 million. World Vision works in 100 countries, helping approximately 100 million people every year. Visit www.30hourfamine.org or call 800-7-FAMINE for more information.
World Vision hunger experts on North Korea and Malawi are now available for interview.
About World Vision -- World Vision is a Christian relief and development organization dedicated to helping children and their communities worldwide reach their full potential by tackling the causes of poverty. World Vision serves the world's poor regardless of a person's religion, race, ethnicity, or gender. For more information, visit www.worldvision.org.
Drunken driver kills 10 in Malawi
Ten people killed were killed on the spot and four others seriously injured after a drunken driver overturned his truck in central Malawi today, police said.
Gift Matewere, police spokesman for Ntcheu district, said the driver of a timber truck had picked up 14 passengers illegally and had since been charged with a series of offences, including causing death by reckless driving and driving under the influence of alcohol.
“The driver who is alleged to have driven whilst drunk failed to negotiate a sharp corner and overturned killing ten people on the spot,” said Matewere.
Road crashes kill an average of four people per day in Malawi, the worst record in sub-Saharan Africa.
Gift Matewere, police spokesman for Ntcheu district, said the driver of a timber truck had picked up 14 passengers illegally and had since been charged with a series of offences, including causing death by reckless driving and driving under the influence of alcohol.
“The driver who is alleged to have driven whilst drunk failed to negotiate a sharp corner and overturned killing ten people on the spot,” said Matewere.
Road crashes kill an average of four people per day in Malawi, the worst record in sub-Saharan Africa.
REVEALED: Malawi sent electoral official to Kenya, Zimbabwe
Malawi President Bingu wa Mutharika who is reportedly to have insinuated at the Kenyan polarized political climate saying he will do ‘a Kibaki' on the country's opposition during the 2009 general elections, indeed sent an official to understudy electioneering processes at the Electoral Commission of Kenya (ECK) and Zimbabwe Electoral Commission.
Government sources said Head of Electoral Services at the Malawi Electoral Commission (MEC) Mr Harris Potani spent close to two months in Kenya seconded to the Kenyan electoral body and tow weeks in Zimbabwe.
Potani whose telephone number in Kenya was +254-734-460-214 confirmed in an interview with Nyasa Times that indeed he had spent time in Kenya attached to ECK who 'robbed' Orange Democratic Movement (ODM) presidential hopeful Raila Odinga victory.
"Yes. It was an official trip and such matters are can only be communicated through our press officer. I am not allowed to talk to the press," said Potani.
Potani is young brother to Judge Healey Potani who ruled in favour of President Mutharika in the case of MEC Commissioners in which Malawi Congress Party (MCP) President John Tembo and United Democratic Front (UDF) National Chairman Dr Bakili Muluzi are challenging the appointment of the commissioners.
The electoral official is reportedly to have left Malawi in November and came back a few days later after ECK declared President Mwai Kibaki a winner in the disputed polls which have plunged the east African country into political turmoil.
He is said to have been in Zimbabwe from the 9th January until 21st January, 2008 at ZEC,tasked with holding free and fair general elections slated for March 29.
MEC spokesperson Fegus Lipenga also in a telephone interview confirmed the trip saying Potani's visit to Kenya was courtesy of a memorandum of understanding between the MEC and Electoral Institute of Southern Africa (EISA).
"Mr Potani spent time at ECK understudying the electoral process under the sponsorship of EISA. The Malawi Government and MEC did not spend any money on his trip.
"We signed a memorandum of understanding covering the activities. Firstly, Mr Potani's trip which was like a scholarship and secondly, training for Malawi," said Lipenga, who added this was aimed at building capacity of MEC.
Nyasa Times sources revealed that the original plan was to include Commissioners but since there was none, Potani was charged with learning the tactical processes.
Speaking Monday at swearing-in of new cabinet ministers, Mutharika touched on Kenyan situation and said it cannot be compared to the Malawi saying what was happening in Kenya are not purely political but tribal conflicts which according to him [Bingu] do not exist in the country.
Mutharika challenged those anticipating a similar situation in Malawi to bring forward evidence to that effect.
Government sources said Head of Electoral Services at the Malawi Electoral Commission (MEC) Mr Harris Potani spent close to two months in Kenya seconded to the Kenyan electoral body and tow weeks in Zimbabwe.
Potani whose telephone number in Kenya was +254-734-460-214 confirmed in an interview with Nyasa Times that indeed he had spent time in Kenya attached to ECK who 'robbed' Orange Democratic Movement (ODM) presidential hopeful Raila Odinga victory.
"Yes. It was an official trip and such matters are can only be communicated through our press officer. I am not allowed to talk to the press," said Potani.
Potani is young brother to Judge Healey Potani who ruled in favour of President Mutharika in the case of MEC Commissioners in which Malawi Congress Party (MCP) President John Tembo and United Democratic Front (UDF) National Chairman Dr Bakili Muluzi are challenging the appointment of the commissioners.
The electoral official is reportedly to have left Malawi in November and came back a few days later after ECK declared President Mwai Kibaki a winner in the disputed polls which have plunged the east African country into political turmoil.
He is said to have been in Zimbabwe from the 9th January until 21st January, 2008 at ZEC,tasked with holding free and fair general elections slated for March 29.
MEC spokesperson Fegus Lipenga also in a telephone interview confirmed the trip saying Potani's visit to Kenya was courtesy of a memorandum of understanding between the MEC and Electoral Institute of Southern Africa (EISA).
"Mr Potani spent time at ECK understudying the electoral process under the sponsorship of EISA. The Malawi Government and MEC did not spend any money on his trip.
"We signed a memorandum of understanding covering the activities. Firstly, Mr Potani's trip which was like a scholarship and secondly, training for Malawi," said Lipenga, who added this was aimed at building capacity of MEC.
Nyasa Times sources revealed that the original plan was to include Commissioners but since there was none, Potani was charged with learning the tactical processes.
Speaking Monday at swearing-in of new cabinet ministers, Mutharika touched on Kenyan situation and said it cannot be compared to the Malawi saying what was happening in Kenya are not purely political but tribal conflicts which according to him [Bingu] do not exist in the country.
Mutharika challenged those anticipating a similar situation in Malawi to bring forward evidence to that effect.
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