https://newsletter.mw.creamermedia.com
Energy|Financial|Operations
Energy|Financial|Operations
energy|financial|operations

Paladin shares plunge after lowering Langer Heinrich guidance

The Langer Heinrich mine in Namibia

The Langer Heinrich mine in Namibia

12th November 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Uranium producer Paladin Energy’s share price plunged nearly 30% on Tuesday after the Australian miner revised down its production forecast for the Langer Heinrich mine in Namibia.

The company cited weaker-than-expected performance in October and ongoing challenges in ramping up operations as key factors behind the revised guidance.

Paladin now expects to produce between 3-million and 3.6-million pounds of uranium from Langer Heinrich in the 2025 financial year, compared with its previous forecast of 4-million to 4.5-million pounds.

Paladin announced a two-week planned shutdown at the mine to carry out operational improvements and upgrades aimed at addressing production challenges.

Langer Heinrich is currently in the midst of a 21-month ramp-up period, with the mine now about seven months into the process. Paladin emphasised that production is expected to rise as the ramp-up progresses and higher-grade ore is processed in the latter half of the 2025 financial year.

“The company remains confident that, by the end of 2025, Langer Heinrich will achieve a production run rate of 6-million pounds per year,” Paladin said in a statement.

Paladin’s stock traded at A$6.88 a share.

Edited by Creamer Media Reporter

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.152 0.24s - 144pq - 2rq
Subscribe Now