Paladin Energy has raised production guidance for its Langer Heinrich Mine to 4.5–4.8 million pounds of U₃O₈ for FY2026, up from the previous 4.0–4.4 million pounds, after delivering 3.6 million pounds in the first nine months of the financial year.
The upgrade comes as Paladin Energy Ltd reported strong operational performance at the Namibian mine, driven by improved ore grades, high recovery rates and the successful mobilisation of its mining fleet.
Production reached 1.29 million pounds in the March quarter, bringing year-to-date output to 3.59 million pounds, while sales stood at 3.0 million pounds over the same period at an average realised price of US$69.8 per pound.
The company said the ramp-up of operations has progressed well over the past nine months, positioning Langer Heinrich to transition to full mining and processing operations by the end of FY2026.
Despite the stronger production outlook, Paladin maintained its sales guidance at 3.8–4.2 million pounds, indicating that inventory build and contract timing will continue to shape deliveries.
Cost guidance remains unchanged at US$44–48 per pound, although the company flagged potential volatility linked to ongoing geopolitical tensions in the Middle East, which could affect input costs and supply chains.
In a notable shift, Paladin cut its capital and exploration expenditure forecast to US$15–17 million, down from US$26–32 million, citing reprioritisation and the deferral of certain activities as the operation stabilises.
Quarterly cost performance remains well below guidance, with year-to-date production costs averaging US$40.4 per pound, reflecting operational efficiencies during the ramp-up phase.
The update confirms Langer Heinrich’s steady return as one of Namibia’s key uranium producers, with the mine’s restart and ramp-up forming part of a broader resurgence in the global uranium market.
Paladin said the revised outlook is based on current operating conditions but remains subject to external risks, particularly geopolitical developments that could influence costs and market dynamics.
