Paladin Energy has announced its strongest operational year since restarting the Langer Heinrich uranium mine in Namibia, producing 4.82 million pounds of uranium oxide and surpassing all major targets for FY2026.
The company exceeded its production guidance, selling 4.35 million pounds of uranium oxide at an average price well above production costs, while maintaining disciplined capital expenditure and lowering operational costs.
During the June quarter alone, the mine produced 1.23 million pounds of uranium oxide, processing 1.19 million tonnes of ore with consistent plant recovery rates. Mining activity reached its highest quarterly level since production resumed, moving 7.45 million tonnes of material.
For the full year, the mine moved 24.41 million tonnes of material, including 6.09 million tonnes of ore, while building strategic stockpiles to support future output. Paladin sold uranium at an average realized price of US$70 per pound, significantly above the production cost of US$43.30 per pound, highlighting the improving economics amid stronger market conditions.
Looking ahead to FY2027, Paladin raised its production forecast to between 5.1 million and 5.6 million pounds of uranium oxide, with sales expected between 4.8 million and 5.3 million pounds. Production costs are anticipated to range from US$44 to US$48 per pound, with capital expenditure increasing to US$29 to US$35 million to support ongoing mine expansion and infrastructure development.
The company emphasized that the successful ramp-up phase is now complete, positioning Langer Heinrich for sustained higher production. The mine holds substantial reserves and resources, including 91.35 million pounds of measured uranium and 77.5 million pounds of proven and probable ore, underpinning a robust production base for years to come.
This milestone reflects Paladin’s operational excellence in overcoming restart challenges and delivering more uranium, higher sales, lower costs, and controlled capital spending than originally planned, marking a significant achievement for both the company and Namibia’s uranium sector.
