Paladin reports record output at Africa mines
PERTH (miningweekly.com) – Dual-listed uranium miner Paladin Energy has reported record production for the full 2013, driven by unprecedented output at its African mines.
Production for the full year ending June reached 8.25-million pounds of uranium oxide (U3O8), which was up by 20% on the previous financial year and well within the previously stated production guidance of between 8-million and 8.5-million pounds.
The Langer Heinrich mine, in Namibia, delivered a record 1.35-million pounds of U3O8 during the three months to June, achieving 104% of the nameplate capacity, with yearly production for 2013 reaching 5.29-million pounds. This was also a 20% increase on the previous financial year.
At the Kayelekera operation, in Mali, Paladin delivered a record 789 439 lb of U3O8 during the June quarter, while full-year production reached 2.96-million pounds, also up 20% on the previous financial year.
The increased production at both Langer Heinrich and Kayelekera comes after Paladin instituted a range of optimisation initiatives at the project sites.
The miner said cost reductions forecast in November of last year had also been exceeded at both sites and more gains were expected during the 2014 financial year.
During the full year, C1 costs at Langer Heinrich were reduced by some 9%, compared with the previous financial year, while C1 costs at Kayelekera were reduced by 24% on the previous financial year.
For the full 2014, Paladin expected to produce between 8.3-million and 8.7-million pounds of U3O8.
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