WINDHOEK, 01 MAY – Paladin Energy recorded a 23 per cent decline in the production of uranium oxide at the Langer Heinrich Mine (LHM) during the fourth quarter ending in March 2018.
The company revealed in its latest quarterly activities report for the period ending on 31 March 2018 that the mine produced 670 456 pounds (lbs) (tonnes) of uranium oxide compared to 873,107 lbs (tonnes) produced in quarter three which ended in December 2017.
It explained that production was down mainly due to lower plant feed grade and a decrease in ore milled.
Paladin Energy is an Australian-based uranium company owns 75 per cent of the mine situated 80 kilometres west of the Walvis Bay Port in the Erongo Region. It is also listed on the Namibia Stock Exchange.
Ore milled was 782,447 tonnes, down by nine per cent compared to the previous quarter which had 862,961 tonnes of ore milled.
“As previously disclosed, a decision needs to be made at least six months prior to the exhaustion of those stock piles as to whether to restart physical mining, process low grade stockpiles or place LHM on care and maintenance. The company continues very active consideration of this issue in light of continued weak spot uranium market conditions,” the report stated.
NAMPA
