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Paladin produces record output from African uranium mines

Paladin produces record output from African uranium mines

Photo by Bloomberg

15th January 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Uranium miner Paladin Energy has reported record combined production from its Langer Heinrich and Kayelekera mines during the three months to December.

The ASX- and TSX-listed miner reported on Wednesday that quarterly production had reached 2.208-million pounds of uranium oxide (U3O8). This was compared with the 2.04-million pounds produced in the three months to September.

At the Langer Heinrich operation, in Namibia, Paladin produced a record 1.43-million pounds of U3O8, up from the 1.42-million pounds produced in the previous quarter. The increased production resulted from the continued optimisation strategy at Langer Heinrich, which Paladin said would continue to deliver further benefits.

At Kayelekera, in Malawi, Paladin produced 777 015 lb of U3O8, up 26% on the 614 603 lb produced in the three months to September. Similar to the Langer Heinrich operation, Kayelekera was benefitting from the continuous improvement strategy currently being implemented at the mine, Paladin said.

Meanwhile, the miner reported that revenue of $101.7-million was garnered during the quarter from the sale of more than 2.7-million pounds of U3O8.

Sales for the quarter ended March were anticipated to be around 1.8-million pounds.

For the full 2014 financial year, Paladin was expecting to produce between 8.3-million and 8.7-million pounds of U3O8.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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