Paladin kicks off uranium production in Namibia

Paladin Energy Ltd (ASX: PDN) has reached a production milestone, with commercial uranium being achieved for the first time at its Langer Heinrich mine in Namibia.

The company – which owns 75 percent of Langer Heinrich – will now turn its attention to increasing production and building a finished product inventory, before shipments to customers begin.

To facilitate this, Paladin has put chief operating officer Paul Hemburrow in charge of all activities at the mine as it moves into production mode, with further operational expectations to be provided in July.

Chief executive officer Ian Purdy highlighted the importance of reaching the production goal.

“Achieving first production at the Langer Heinrich Mine is an important milestone for Paladin,” he said.

“I would like to thank all our staff and contractors for their hard work and dedication in returning this globally significant uranium mine to production.

“I would also like to thank the Namibian Government and our local communities in the Erongo region for their continued support.”

Langer Heinrich has a long history, with a deposit first discovered in 1973, and an established plant with infrastructure connected to Walvis Bay deepwater port, located 85 kilometres southwest of the mine.

Paladin has previously posted expectations of 77 million pounds of uranium to be produced from the mine.

Paladin is trading at $1.44c.