ASX-listed Paladin Energy is on track for first uranium production from its re-started Langer Heinrich mine, in Namibia, by the first quarter of next year.
The company said in a presentation on Wednesday that the A$118-million restart was over 50% complete, with the project tracking on budget.
The project’s life-of-mine production is estimated at 77.4-million pounds over a 17-year mine life, at an estimated C1 cost of $27.40/lb. Paladin said on Wednesday that the company was targeting a 6-million-pound-a-year production rate over the first seven years of operation during the openpit mining phase, while production was targeted at 3.3-million pounds for the remainder of the project life during the stockpile phase.
The project will employ some 300 staff.
First run-of-mine feed contracts are expected shortly and the contract mining tender is scheduled to be awarded by the end of the 2024 financial year.
Paladin told shareholders that the company would assess the Scope 1 and Scope 2 emissions profile at Langer Heinrich once the project was back in production, and would then determine a net zero commitment timeframe.