The Langer Heinrich Mine has reported its strongest operational results since restarting production, delivering 993,843 pounds of U₃O₈ in the June 2025 quarter—a 33% increase over the previous quarter.
This brings the total FY2025 output to 3.0 million pounds of U₃O₈, the highest since the mine’s restart.
The performance was driven by record crusher throughput of 1.17 million tonnes, surpassing a decade-old benchmark, consistent plant performance, and improved feed blend quality.
Processing plant recoveries averaged 87 per cent, the highest in the mine’s history, with improvements expected to be sustained into FY2026.
Sales for the quarter reached 710,051 pounds, contributing to 2.7 million pounds sold in FY2025.
One new contract was signed, bringing Langer Heinrich Mine’s agreements to 13 tier-one customers across the US, Europe, and Asia.
In total, £ 24.1 million is contracted through 2030, with 86 per cent of reserves exposed to market-related pricing or uncontracted, ensuring long-term revenue upside.
A life-of-mine agreement remains in place with China’s CNNC, one of the world’s largest uranium consumers.
Financially, quarterly revenue stood at US$39.4 million (approximately N$709 million), while full-year 2025 revenue was US$177.7 million (approximately N$3.19 billion).
The average realised price was US$65.7 per pound (N$1,182/lb) for the year.
Cost of sales totalled US$183.7 million (N$3.31 billion), with a quarterly cost of production of US$37.5 per pound (N$675/lb), reflecting efficiencies from higher output.
The final phase of the ramp-up is now underway, with approximately 50 per cent of the mining fleet expected to be operational by June 2025.
The remaining fleet is scheduled for delivery later this year and expected to be fully commissioned in the second half of FY2026.
Langer Heinrich Mine aims to achieve full mining and processing capacity by the end of fiscal year 2027.
The mine plan has been optimised to prioritise medium and high-grade ore for processing, with lower-grade material stockpiled for future treatment.
Exploration and optimisation drilling continued within the ML140 mining lease, strengthening geological confidence in near-term mining areas.
Capital expenditure was focused on the construction of Tailings Storage Facility 6 (TSF6), while a US$19.9 million (N$358 million) impairment on low-grade ore stockpiles was recognised earlier in the year.
