Chamwe Kaira
Paladin Energy says its Langer Heinrich Mine ramp-up remains on track and is expected to be completed by the end of the 2026 financial year.
The company restarted the mine in 2024 after completing a US$120 million project focused on repairs, refurbishment and removing production bottlenecks to improve plant availability and runtime.
Since the restart, the mine has fully returned to mining operations. Processing performance has improved over time, supported by higher ore feed grades and better recovery rates.
The company also reported record ore throughput and stronger uranium sales.
Because of this progress, Paladin upgraded its 2026 production guidance in April to between 4.5 million and 4.8 million pounds of uranium oxide (U3O8).
Langer Heinrich, located in Namibia, forms part of a country that produces about 12% of global uranium supply, highlighting its role in the global market.
The mine has been in operation since 2007 and has produced and sold 49 million pounds of U3O8 to international customers.
During the first nine months of the 2026 financial year, the mine sold 3 million pounds of uranium oxide at an average price of US$69.8 per pound.
The company said this reflects the strength of its contract book and improved uranium market pricing.
Paladin has secured contracts for 22 million pounds of U3O8 for delivery up to 2030, providing sales certainty over the medium term.
At the same time, 86% of the ore reserve remains uncontracted or linked to market prices, giving the company exposure to higher prices if the uranium market strengthens.
The company said the combination of rising production, a strong customer base and exposure to market pricing supports Langer Heinrich’s position in the global nuclear fuel market.
Paladin said the operation is supported by long-term sales agreements running until 2030, based on its order book as at 31 March 2026.
These agreements remain subject to standard conditions, including approvals from the Namibian government and other regulators.
The company added that its contract coverage and pricing calculations are based on nominal contracted volumes from 1 April over the life of mine, aligned with the life of mine ore reserve declared as at 30 June 2025.
