Paladin Energy and joint-venture partner Cameco have beaten almost 40 groups, including Energy Resources of Australia, to take control of the Angela and Pamela uranium deposits in the Northern Territory, The Australian Financial Review reports.

According to the AFR, the deposits are believed to contain as much as 13,000 tonnes of uranium and Paladin is optimistic it can extend the deposits at depth to support a mining operation of 2 to 3 million pounds of uranium per year.