Following the completion of the mining ramp-up at the Langer Heinrich uranium mine, in Namibia, and with the increased availability of primary mined ore, Australia-listed Paladin Energy, has set the mine’s production guidance for the financial year to end on June 30, 2027, at between 5.1-million and 5.6-million pounds of uranium octoxide (U3O8).
The mine produced 4.82-million pounds of U3O8 for the financial year ended June 30, this year – at the upper end of guidance of 4.5-million to 4.8-million pounds of U3O8.
“We were very pleased to successfully complete the ramp-up of the Langer Heinrich mine in line with our commitment to deliver this goal by the end of the 2026 financial year, while also meeting the upper-end of our revised production guidance,” comments MD and CEO Paul Hemburrow.
Paladin sold 4.35-million pounds of U3O8 for the 2026 financial year, exceeding guidance of 3.8-million to 4.2-million pounds of U3O8. Sales for the 2027 financial year are estimated at 4.8-million to 5.3-million pounds of U3O8.
Further, Paladin expects to invest between $29-million and $35-million in capital expenditure (capex) at Langer Heinrich in the 2027 financial year. Key expenditure items include the design and construction of tailings storage facilities, process improvement studies and infill drilling.
Capex will also include the completion of selected capital exploration activities deferred from the 2026 financial year.
Meanwhile, Hemburrow underscores the importance of the formal acknowledgement received from the Canadian Nuclear Safety Commission of achievement of sufficiency status, for the company’s development of the Patterson Lake South (PLS) project, in Saskatchewan, as well as for the company’s long-term growth.
“This achievement, together with an agreed administrative protocol, activates a regulatory timeframe and processes for obtaining our licence to commence construction. While continuing to progress the approvals, engineering and Indigenous agreement pathways for the PLS project, we know that shareholders will be delighted to see the continuing prospectivity of our landholdings in the Athabasca Region.
“Our new discovery at Atlas, located on the Saloon Trend that runs broadly parallel to our Triple R deposit, has demonstrated that there are significant opportunities for Paladin to increase the development potential at the PLS project,” he adds.