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Paladin reports record output at Africa mines

26th July 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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Dual-listed uranium miner Paladin Energy has reported record production for the full 2013 financial year, driven by unprecedented output at its African mines.

Production for the year – to the end of June – reached 8.25-million pounds of uranium oxide (U3O8), which was up 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.

Optimisation Initiatives

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 last year had also been exceeded at both sites and more gains were expected during the 2014 financial year.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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