Paladin Energy sold 3 million pounds (Mlb) of uranium oxide during the first nine months of the 2026 financial year, generating about N$3.5 billion in revenue at its Langer Heinrich Mine.
The sales were achieved at an average realised price of N$1,174.73 per pound, compared to an average production cost of N$679.93 per pound, reflecting strong margins as output continues to ramp up.
Total production over the period reached 3.59 Mlb, while mining activity intensified, with 17 million tonnes (Mt) of material extracted following the commissioning of a full mining fleet.
Managing Director and Chief Executive Officer Paul Hemburrow said the operation has now shifted into high-volume production.
“Full mining fleet commissioned and operational, with 17Mt mined in the first nine months of FY2026,” he said.
The increase in mining activity has supported improved plant performance, with the processing facility recording a 92% recovery rate in the March 2026 quarter.
Paladin said it is supplying a Tier-1 customer base, with 3 Mlb of uranium oxide sold during the period.
“The Langer Heinrich Mine is actively delivering uranium to a Tier-1 customer base, with 3 Mlb of uranium oxide sold during the first nine months of FY2026 at an average realised price of N$1,174.73 per pound (US$69.8/lb). While 22 Mlb of uranium oxide is already contracted through 2030, the operation retains significant commercial flexibility as 86% of the ore reserve remains uncontracted or exposed to market-related prices,” Hemburrow said.
To support long-term stability, the company has secured contracts for 22 Mlb of uranium oxide through 2030, while maintaining exposure to market-linked pricing for 86% of its remaining reserves.
Paladin has also upgraded its production guidance for the 2026 financial year and now expects to produce between 4.5 million and 4.8 million pounds of uranium oxide.
