Staff Writer
Paladin Energy Limited has successfully completed the ramp-up of its Langer Heinrich Mine (LHM) in Namibia, achieving strong operational performance and meeting or exceeding its revised financial year 2026 production, sales and cost guidance.
In its June 2026 quarterly report released on 24 July 2026, the Australian-listed uranium producer said LHM produced 1.23 million pounds (Mlb) of uranium oxide (U₃O₈) during the quarter, bringing full-year production to 4.82Mlb U₃O₈.
The company reported quarterly sales volumes of 1.35Mlb U₃O₈ at an average realised price of US$70.6 per pound, while total 2026 Financial Year (FY2026) sales reached 4.35Mlb U₃O₈.
The completion of the Langer Heinrich ramp-up marks a key milestone for Paladin as it continues to expand its uranium production profile from Namibia.
The mine, located in the Namib Desert, restarted production in 2024 after being placed on care and maintenance in 2018 due to weak uranium prices.
Paladin said progress continued at its Patterson Lake South (PLS) uranium project in Canada, where the Canadian Nuclear Safety Commission (CNSC) confirmed that the project’s Construction Licence application was sufficient to proceed through the regulatory review process.
Following the end of the quarter, Paladin signed an Administrative Protocol with the CNSC aimed at completing hearings for the Construction Licence application by the end of 2027.
The company also entered into a binding term sheet with the Birch Narrows Dene Nation relating to a Mutual Benefits Agreement for the PLS Project.
Paladin reported a new high-grade uranium mineralization discovery, known as the Atlas discovery, during its winter drilling programme. The discovery is located 3.5km south of the PLS Project’s Triple R deposit and 4.5km southwest of Saloon East.
At the end of the quarter, Paladin held cash and investments of US$265 million, together with an undrawn US$70 million revolving credit facility.
The company recorded a Total Recordable Injury Frequency rate of 3.2 incidents per million hours worked on a 12-month basis.
Paladin managing director and chief executive officer Paul Hemburrow said the completion of the Langer Heinrich ramp-up demonstrated the company’s ability to deliver on its operational commitments.
“We were very pleased to successfully complete the ramp-up of the Langer Heinrich Mine in line with our commitment to deliver this goal by the end of FY2026, while also meeting the upper-end of our revised production guidance.
“Importantly for Paladin’s long-term future growth, we received formal acknowledgement from the Canadian Nuclear Safety Commission of achievement of sufficiency status, another significant milestone in developing the PLS Project.
This achievement, together with an agreed administrative protocol, activates a regulatory timeframe and processes for obtaining our licence to commence construction.”
