Paladin cuts Namibian spend

The planned capex for the 2021 financial year was down by 44% on the funds spent in the 2020 financial year, as Paladin moved to bring the operation back into production.

Paladin recently released a restart plan for the Langer Heinrich project, which found that the project could be brought on line at a capital cost of $81-million.

The restart plan confirmed a 17-year mine life, with peak production expected at 5.9-million pounds of uranium dioxide a year, from the seventh year of operation. Over the entire mine life, Langer Heinrich could produce up to 88.5-million pounds of uranium dioxide.

The company on Tuesday said that it was engaging with potential customers with an ultimate view to securing uranium term-price contracts with sufficient term and value to underpin the restart of the Langer Heinrich mine.