Name of the Project
Langer Heinrich uranium mine restart project.

Location
Nambia.

Project Owner/s
Paladin Energy.

Project Description
Paladin placed Langer Heinrich under care and maintenance in May 2018, owing to the sustained low uranium spot price, and successfully transitioned the mine to full care and maintenance in August 2018.

A recently completed concept study has generated a conceptual plan that puts Paladin in a strong position to restart Langer Heinrich when there is a sustained recovery in uranium prices.

The concept study has identified multiple options to reduce operating costs, improve uranium process reliability and potentially recover a saleable vanadium product.

This includes some necessary repairs and equipment replacement, scheduled tailings dam construction, additional surge capacity to increase process stability, process control system upgrades and the deployment of a comprehensive management operating system.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Initial capital funding requirements for a restart of Langer Heinrich are expected to be relatively low at about $100-million, including capital for plant repair and improvement of $24-million, tailings facility construction of $4-million, back-end upgrade execution of $22-million and working capital of $50-million.

The remaining plant optimisation capital is expected to be funded from operating cash flows following a ramp-up to full production.

Planned Start/End Date
The mine could be back in full production as early as mid-2021, subject to validation in the study, allowing it to be a first mover in the market if the uranium price recovery continued.

Latest Developments
Paladin plans to undertake a two-stage prefeasibility study (PFS) to further develop the Langer Heinrich restart plans. The PFS will focus on improvements to ensure that the restart maximises value. It will also improve mineral resource definition through additional drilling of the highest-grade remaining resource, and develop and confirm processing and operational improvement options to reduce operating cost and improve operability.

The first stage of the PFS will refine the restart plan with the examination of a rapid, low-risk restart for Langer Heinrich. This is expected to be completed in the first quarter of 2020 and a more detailed study for process upgrades is planned to be completed in the third quarter of 2020.

The PFS is expected to cost $6.2-million and will be funded from existing cash resources.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Paladin Energy, tel +61 8 9381 4366, fax +61 8 9381 4978 or email paladin@paladinenergy.com.au.