Paladin Energy (ASX, TSX: PDN) expects its Langer Heinrich uranium mine in Namibia to reach full production by the end of June, just as a supply gap opens, CEO Paul Hemburrow said.
In Canada, Paladin is advancing its Patterson Lake South uranium project in Saskatchewan, which together with the preliminary economic assessment-stage Michelin project in Labrador, gives Paladin a multi-asset uranium pipeline spanning current production and Canadian growth projects. Meanwhile, Langer Heinrich is trending toward the upper end of its 4 million-to-4.4 million lb. uranium oxide guidance range in the year to date.
“There’s been a lack of exploration over the last 10 years. Mines are being depleted and so the supply-demand gap is continuing to open up,” Hemburrow told The Northern Miner video anchor Devan Murugan during this month’s PDAC convention in Toronto.
Patterson Lake South received provincial environmental impact statement approval in February. The company expects to make a final investment decision by the end of 2027. First uranium production is targeted for 2031.
Watch the full video below:
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