Chamwe Kaira
Paladin Energy chairman Cliff Lawrenson says the expansion of nuclear capacity in many countries will drive industry growth, especially in the 2030s.
He said a new uranium supply takes more than a decade to reach the global market because of strict approval systems, and in some countries with large resources, such as Australia, restrictive public policies also limit development.
Lawrenson said more nations are investing in new or expanded nuclear power to meet decarbonisation and energy security goals.
He noted that while European countries are focused on transforming their energy mix, the United States is prioritising nuclear energy security.
“I note with interest that even our host Governments in Namibia and Saskatchewan, Canada, are now looking at opportunities to develop their own nuclear energy facilities,” he said.
Paladin raised A$400 million (about N$ 4.47 billion) during September and October through institutional investors and retail shareholders.
Lawrenson said the decision to increase the Share Purchase Plan allowed more retail shareholders to participate in the company’s future plans.
“The funds secured are de-risking the development of our Canadian projects, finalising our ramp-up at the Langer Heinrich Mine (LHM) in Namibia, and undertaking further exploration,” he said.
The company has also completed a leadership transition, appointing Paul Hemburrow as its new managing director and chief executive officer, following the tenure of former long-term CEO Ian Purdy.
Paladin is the fourth-largest listed uranium producer globally.
With the Langer Heinrich Mine now supplying new uranium oxide to a strong global market, the board has shifted its focus to future growth, including the acquisition of Fission Uranium Corp. in Canada.
Lawrenson said Paladin’s 2025 sustainability report shows a company moving from developer to global producer.
He highlighted its health and safety record, noting a total recordable injury frequency rate of 2.7 per million hours worked, which was below target.
He said the year confirmed Paladin’s role in global decarbonisation efforts.
According to him, uranium is vital for reliable, low-emission energy, and the company aims to supply it from operations that uphold high standards in environmental stewardship, governance and community partnership.
“Across our workforce, supply chain and host communities we are deepening local engagement, broadening inclusion and transparency, and embedding sustainability in our decision-making,” he said.
“The result is a company demonstrating operational momentum and maturing sustainability capability, well aligned with the expectations of investors, regulators and our communities.”
Caption
Namibia is expected to benefit from rising uranium prices.
- Photo: Contributed
