Uranium producer Paladin Energy on Monday reported strong full-year 2014 and fourth-quarter output, meeting its guidance. Paladin, which produces yellowcake from operations in Africa, reported combined output of 7.94 million pounds of uranium oxide, which was down 3.8 percent year-on-year, but met the upper end of the company guidance of between 7.8 million pounds and 8 million pounds.
The Langer Heinrich mine, in Namibia, produced a record 5.592 million pounds of uranium oxide, up 5.7 percent year-on-year, and for the three months ended June, the mine produced 1.3 million pounds of the radioactive element.
Paladin said its Kayelekera operation, in Malawi, which was placed on care and maintenance and ceased production on May 6, produced 2.35 million pounds of uranium oxide for the full year and 262,060 lb of uranium oxide for the June quarter. The miner pointed out that it would restart the operation once the uranium oxide price provided a sufficient incentive at about US dollars 75 per lb and when grid power supply became available on site to replace the existing diesel generators with low-cost hydroelectricity.
Resource Portal for I2M Clients, Associates, and Geoscientists
Managed & Built by I2M Consulting, LLC | © 2010-
Managed & Built by I2M Consulting, LLC | © 2010-