Paladin Energy (ASX:PDN) is looking to ramp-up production and build a finished product inventory at its Langer Heinrich Mine (LHM) ahead of shipments to customers.
Paladin, which has a $4.08 billion market capitalisation, achieved uranium concentrate production and drumming on 30 March 2024.
Paladin will provide guidance for key FY2025 LHM operational parameters in July 2024
As part of the transition to production, Paladin Chief Operating Officer Paul Hemburrow will assume responsibility for all LHM activities.
Paladin CEO Ian Purdy says: “Achieving first production at the Langer Heinrich Mine is an important milestone for Paladin.
With a return to production, a strong balance sheet and supportive uranium fundamentals, Paladin is exceptionally well positioned to generate sustainable returns for all our stakeholders.”
At full production, Langer Heinrich’s annual uranium output is enough to supply over ten 1,000 megawatt electric nuclear power plants for a year.
It sits about 80km east of Swakopmund and 85km northeast of the Walvis Bay major deepwater harbour.
Paladin Energy is a uranium company that owns a ‘large’ global portfolio of uranium exploration and development assets.
Write to Adam Drought at Mining.com.au
Images: Paladin Energy
