Mining activities at the Langer Heinrich Mine are expected to re-commence in 2026 before achieving nameplate production of 6Mlb p.a. by the end of CY2026.
The Langer Heinrich Mine achieved uranium concentrate production and drumming on March 30, 2024, six years after going under care and maintenance.
According to a Langer Heinrich Mine FY2025 Guidance, production ramp-up and product inventory build-up are underway ahead of the first customer shipment, expected in July 2024.
Paladin Energy Ltd, which has a 75% interest in the mine, says the mine will be on an operational ramp-up during 2025, with ore feed to the plant sourced from previously mined stockpiled ore.
The company says production levels are expected to rise in the second half of 2025.
Paladin Energy announced in April that it would focus on production ramp-up and building a finished product inventory at the Langer Heinrich Mine ahead of shipping uranium to customers.
An activity and cashflow report for the quarter ended March 31, 2024, says Paladin executed a N$2.9 billion (US$150 million) syndicated debt facility, of which N$478 million (US$25 million) was drawn down during March.
As of March 31, 2024, Paladin held cash and cash equivalents of N$955 million (US$50 million), excluding restricted cash of N$55.4 million (US$2.9 million).
The US$150 million debt facility was drawn down during the quarter with US$125 million remaining debt capacity.
The company’s net cash expenditure for the quarter was N$571 million (US$29.9 million).
