Paladin Energy COO Paul Hemburrow states that at Langer Heinrich Mine, roughly half of the new fleet is already on site—comprising 100-tonne trucks and 150-tonne excavators—with the balance, including 150-tonne trucks and Hitachi EX2600 excavators, scheduled to arrive by year-end.
Hemburrow made this statement at the recently concluded Diggers and Dealers event in Australia.
Paladin Energy expects the full fleet to be operational in the second half of FY26, enabling a shift from medium-grade stockpiles to prime ore feed.
He added that Langer Heinrich is in the final phase of ramp-up, with complete mining and processing operations targeted by the end of FY26.
The mine achieved its highest crusher throughput in history last quarter, following refurbishment and debottlenecking work that enhanced plant capability. Quarterly output was just under one million pounds, taking the total for the previous financial year to a little over three million pounds.
Paladin Energy realised an average price of approximately US$65.70 per pound, compared to an average production cost of around US$40.20 per pound.
On the processing side, Hemburrow said overall recoveries have stabilised at sustainable levels. Infrastructure upgrades are now complete, including a newly constructed tailings facility with enhanced return-water capabilities.
Site power—comprising Paladin Energy’s generation—has been refurbished and is performing reliably.
NamWater upgrades are commissioned, along with multiple water-storage bladders and a new borefield abstraction system.
On-site water-use optimisation reduces overall demand.
Hemburrow framed the operational progress against a tightening uranium market.
He cited growing nuclear demand resulting from COP28 and COP29 commitments, as well as supportive U.S. policy, with roughly 430 operating reactors underpinning current consumption, 69 under construction, and more than 100 in planning.
Utilities still face significant uncovered requirements out to 2035, and major consuming countries have limited domestic supply, reinforcing the push to diversify sources.
Commercially, Paladin Energy’s contract book spans 2025 to 2030 with 13 tier-one counterparties.
Approximately 43% of deliveries are based on escalated pricing that provides downside protection, and roughly 50% are market-related, with essentially uncapped upside.
Looking further ahead, Hemburrow said around 87% of Langer Heinrich’s reserves are either uncontracted or tied to market-related pricing, preserving leverage to price cycles.
Paladin’s growth pipeline extends across Namibia, Canada and Australia, with Patterson Lake South (PLS) in Canada positioned as a cornerstone opportunity in the Athabasca Basin.
The shallow, basement-hosted orebody begins about 50 metres from surface and contains roughly 93.4 million pounds of probable reserves at around 14,100 ppm—about twenty times the grade at Langer Heinrich.
The project is capable of around nine million pounds per year at approximately 1,000 tonnes per day, using conventional underground mining and a standard Athabasca flowsheet.
Since acquiring the project, Paladin has moved quickly on permitting and engagement: securing an ownership exemption to maintain 100% control, signing two MOUs with First Nations—with two more advancing—and receiving acceptance from Environment Saskatchewan on the final EIS, now out for public review.
A ministerial decision is expected by the end of the year. In parallel, Paladin will pursue a construction permit with the Canadian Nuclear Safety Commission, continue drilling to grow the Triple R resource along the Saloon East trend, and prepare for detailed engineering.
Winter drilling at Saloon East, Hemburrow brow noted, intersected radioactivity levels not seen since the original PLS discovery.
Strategically, Paladin’s focus is to maximise production at Langer Heinrich while de-risking and advancing PLS. Exploration priorities centre on resource definition at PLS, life-of-mine extension opportunities at Langer Heinrich, and selective Canadian prospects to build long-term options.
“We’re focused on delivering sustainable value,” Hemburrow said, “by finishing the ramp-up in Namibia and bringing a high-grade Canadian growth engine through feasibility, permitting and into development.”
