Paladin Energy, an ASX-listed uranium miner and developer, has pitched a $C1.14 billion ($1.5 billion) takeover of Toronto-listed Fission Uranium to bring its proposed Canadian mine into production by 2029 to meet global demand.

Paladin Energy, which has a flagship project in Namibia – Langer Heinrich – and sites in Queensland and Western Australia, said Fission’s deposit is attractive because it’s close to major customer, the United States, and offers the chance to create a hub with Paladin’s existing tenement in Canada.