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Uranium: Paladin Eyes 3 million Pounds Output in Namibia by June 2025

Friday, 24 January 2025 17:09
Uranium: Paladin Eyes 3 million Pounds Output in Namibia by June 2025

(Ecofin Agency) - Namibia is Africa's top uranium producer, delivering 8,283 tonnes from its mines by 2023. Production is expected to rise significantly in 2024 with the reopening of the Langer Heinrich mine by Australia's Paladin Energy.

Nambia’s Langer Heinrich mine produced 1.2 million pounds of uranium in the second half of 2024. Paladin Energy, the asset’s owner, disclosed the output on January 22. The firm said the figure aligns with its target of producing between 3 million and 3.6 million pounds by June 30, 2025.

Uranium production has been stable over the last two quarters, with outputs of 638,409 pounds and 639,679 pounds in Q3 and Q4, respectively. However, Paladin needs to produce at least 1.7 million pounds more to meet the lower end of its fiscal 2025 guidance.

Closed in 2018, Langer Heinrich resumed production last March, spurred by growing demand for uranium. 

According to the World Nuclear Association, global demand for uranium should increase by 28% from 2023 to 2030, and 51% from 2031 to 2040, due to renewed interest in nuclear energy.

Namibia produced 8,283 tonnes or about 18.2 million pounds of uranium in 2023. 

This article was initially published in French byEmiliano Tossou 

Edited in English by Ola Schad Akinocho





 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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