Chamwe Kaira
Paladin Energy Ltd has raised its production forecast for the Langer Heinrich Mine after reporting improved performance in the first nine months of the 2026 financial year.
The company now expects full-year uranium oxide (U3O8) output to reach between 4.5 million and 4.8 million pounds, up from the previous forecast of 4 million to 4.4 million pounds. The updated outlook comes ahead of its March 2026 quarterly report due on 22 April.
Paladin said production at the mine has increased as operations continue to ramp up.
The improvement follows the mobilisation of mining equipment, better ore grades and stronger recovery rates at the processing plant. Year-to-date production has reached 3.6 million pounds of U3O8.
Sales remain in line with earlier guidance. The company expects to sell between 3.8 million and 4.2 million pounds for the full year. It has already sold 3 million pounds during the first three quarters.
Production costs are expected to remain within the range of US$44 to US$48 per pound. The company said global tensions, including conflict in the Middle East, could still affect costs.
Paladin has reduced its capital and exploration spending forecast to between US$15 million and US$17 million, down from US$26 million to US$32 million. It said this decision follows the deferral and reprioritisation of some projects.
Quarterly production has increased from 1.07 million pounds in the first quarter to 1.29 million pounds in the third quarter.
The average uranium price received so far this year is US$69.8 per pound, while average production costs stand at US$40.4 per pound.
The company said it remains on track to move the Langer Heinrich Mine to full mining and processing operations by the end of the 2026 financial year.
