US supply contracts for Paladin

24 August 2011

Australia's Paladin Energy has signed three new uranium sale agreements with US customers for output from the stage 3 expansion of the Langer Heinrich mine in Namibia. The company said that the production commitments from the agreements total more than 2.8 million pounds U3O8 (1077 tU), with deliveries between 2012 and 2016. Contractual prices range from the low- to mid-$60's per pound U3O8, Paladin said. The Langer Heinrich stage 3 expansion is near completion with commissioning and stage ramp-up progressing well, according to the company. Stage 3 will increase the mine's annual output from 3.7 million pounds U3O8 (1425 tU) to 5.2 million pounds U3O8 (2000 tU). Ramp-up of stage 3 is on track to reach nameplate by the end of the 2011, according to Paladin.

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