Paladin Energy says it has allocated N$52 million (US$2.9 million) in sustaining capital expenditure during the last quarter to maintain Langer Heinrich Mine’s (LHM) operational efficiency and production capabilities.
According to a release by the company, during the past quarter, the LHM produced 0.64 million pounds of uranium (U₃O₈), with ore feed sourced from previously mined stockpiled ore.
Notably, there were no lost-time incidents (LTI) or serious environmental incidents reported at the site during the period review.
“With a large-scale uranium mine back in production, an exceptional operations team, a world-class contract book, and a positive outlook for future uranium pricing, Paladin is well positioned to deliver continued shareholder returns,” said Paladin CEO Ian Purdy.
He further explained that the company has employed over 460 people, comprising employees and locally sourced mining contractors.
Purdy said 98% of employees at the LHM are local residents and 99% of LHM employees and mining contractors living in the area.
The LHM Restart Project has also significantly contributed to the local economy, with N$1 billion ($61 million) spent on goods and services from local and regional businesses during FY2024.
“Paladin actively engages with local communities, aiming to contribute meaningfully to their social prosperity and development,” Purdy said.
Moreover, Purdy further explained that the mine has demonstrated proven operational capability that underpins the fiscal year 2025 (FY2025) operational ramp-up.
Mining activities are expected to recommence in FY2026, with plans to achieve nameplate production of 6 million pounds per year.
“The ramp-up of production at the LHM continues to de-risk the project and demonstrates the benefits of the plant upgrades delivered during the LHM Restart Project. While production in the second quarter of the ramp up encountered some process recovery and efficiency challenges, the onsite team commenced the implementation of operational and process design improvements, which delivered improved performance towards the end of the quarter,” he said.
Paladin continues to layer contracts into its industry-leading contract book with an additional three sales agreements with top-tier counterparties signed during the quarter.