• Paladin to raise A$300M for uranium projects in Australia, Canada
• Funds target Patterson Lake and Langer Heinrich mine expansion
• Uranium demand rising; peers like Lotus, Bannerman also investing

Paladin Energy on Tuesday announced plans to raise up to 300 million Australian dollars (about $200 million) through a series of stock market transactions in Australia and Canada. The fundraising, which is subject to regulatory approvals, aims to secure the resources needed to advance the company's uranium projects, including its flagship Langer Heinrich mine in Namibia.

The plan includes a $231 million AUD institutional placement on the Australian Securities Exchange (ASX) and a $33 million AUD private placement on the Toronto Stock Exchange (TSX) in Canada. These are supplemented by a fully underwritten share sale of about $36 million AUD to reach the total target.

The funds will primarily finance the development of the company’s Patterson Lake South uranium project in Canada, from its Final Investment Decision (FID) through the construction phase. While production at that site is not expected until 2031, Paladin plans to allocate some of the proceeds to the Langer Heinrich project, where production restarted in March 2024.

Specifically, Paladin aims to reach a full production rate of 6 million pounds of uranium per year at Langer Heinrich by 2027. The mine produced approximately 3 million pounds of uranium during the company's 2025 financial year, which ended in June. A portion of the funds will also be used to continue exploration work at the site.

The investment announcement comes amid a global resurgence in civil nuclear programs. According to the World Nuclear Association (WNA), global demand for uranium is expected to grow by 28% by 2030 and nearly double by 2040. Mining companies are looking to capitalize on this outlook by investing in their projects, particularly in Africa.

Like Paladin, other companies are also raising capital. Lotus Resources recently announced a $42 million fundraising effort for its uranium assets in Malawi and Botswana. Similarly, Bannerman plans to mobilize $55 million to move its Etango project in Namibia toward a Final Investment Decision.

Aurel Sèdjro Houenou