Paladin Energy restarted uranium production at its Langer Heinrich mine in Namibia in March 2024. However, last month, the mine was flooded by heavy rains, forcing a temporary halt and prompting the company to withdraw its 2025 production forecasts.

From January to March 2025—the third quarter of Paladin’s fiscal year—the mine produced 745,484 pounds of uranium, its highest quarterly output since reopening. 

Ore processed rose 20% quarter-on-quarter to 900,000 tonnes, with recovery steady at 88%. “Our team at the LHM deserves enormous credit for their response to this unexpected incident, their ability to be agile and to rapidly implement a recovery program at the site,” said Paladin CEO Ian Purdy. The company shifted mining to a new pit after flooding damaged the originally planned site.

Paladin aims to leverage rising uranium prices amid renewed global interest in nuclear power. It holds 12 export contracts totaling 22.3 million pounds of uranium through 2030. In the quarter, it sold 872,435 pounds at an average price of $69.90 per pound.

Despite the record quarter, Paladin faces pressure after withdrawing its 2025 production guidance. It had targeted 3 to 3.6 million pounds by June 2025 but now expects to fall short. The previously announced goal of 6 million pounds annually by the end of 2025 also appears out of reach. Production visibility for upcoming quarters remains uncertain.

This article was initially published in French by Emiliano Tossou

Edited in English by Ange Jason Quenum