Chamwe Kaira
Paladin Energy’s Langer Heinrich Mine sold 533 789 pounds of uranium oxide during the quarter ending 30 September at an average price of US$67.4 per pound.
The sales generated about US$35.98 million, equivalent to roughly N$635 million.
The company reported that a shipping delay affected sales volumes, resulting in a customer delivery after the quarter’s end. It added that sales and prices depend on contract terms, payment conditions, and the timing of deliveries, which vary from quarter to quarter based on customer requirements.
Mining activities at Langer Heinrich continued to ramp up during the period, focusing on drilling, blasting, and load-and-haul work in the G and F pits. A total of 5.27 million tonnes of material was mined during the quarter, a 63% increase compared to the previous quarter.
“Waste stripping in the G-pit area was prioritised to enable future ore access, and preparatory works for the G3A pit were progressed. The remaining mining fleet is scheduled for delivery in late 2025 and expected to be commissioned and in service during the second half of 2026,” the company said.
Crusher throughput reached 1.15 million tonnes, in line with the previous quarter, supported by steady feed and circuit performance.
The processing plant continued to handle a high proportion of medium-grade stockpile, with an average uranium oxide grade of 477 parts per million, consistent with the prior quarter.
During the period, Langer Heinrich produced 1,066,496 pounds of uranium oxide with an overall plant recovery rate of 86%, marking a record output.
The company expects lower levels of mined ore feed in the December 2025 quarter as operations focus on waste removal in the G-pit area.
This is expected to pave the way for higher ore production during the second half of the 2026 financial year.
The mine plan has been designed to supply medium- and high-grade ore to the processing plant, while lower-grade ore is being stockpiled for future use.
Paladin said the operational ramp-up of Langer Heinrich will be completed by the end of the 2026 financial year, with full mining and processing operations planned for 2027. No major exploration work took place during the quarter.
“We had a significant increase in our mining activities during the period at the Langer Heinrich Mine and our overall ramp-up continues to progress steadily in line with our plan,” said Paul Hemburrow, managing director and chief executive officer of Paladin Energy.
Paladin also received an advance payment of US$29.7 million during the quarter for a sale that will be recorded in the December 2025 quarter.
The company signed one additional uranium sales agreement, bringing the total to 14 contracts with top-tier customers in the US, Europe, and Asia.
The unit production cost for the quarter was US$41.6 per pound. The company said this reflects progress made during the ramp-up phase.
Costs related to low-grade ore stockpiling and waste movement were also recorded as part of early-stage pit development.
Caption
Mining activities at the Langer Heinrich Mine continued to ramp up.
- Photo: Contributed
