Langer Heinrich Mine Springs Back to Life

Highlights:

• Uranium Production Kickstarts: Paladin Energy Ltd announces the commencement of uranium concentrate production at the Langer Heinrich Mine on 30 March 2024, marking a significant milestone in the mine's return to operational status.
• Leadership and Operational Focus: Chief Operating Officer Paul Hemburrow takes charge of all operations at LHM, signaling a strategic move to enhance production efficiency and ramp-up activities for future uranium shipments.
• Commitment to Sustainable Returns: With the mine's revival, Paladin Energy is well-positioned to leverage strong uranium market fundamentals, promising sustainable returns for stakeholders and contributing to global nuclear energy solutions.

A New Era for Uranium Production

In a significant development for the nuclear energy sector, Paladin Energy Ltd (ASX: PDN) has announced the commencement of uranium concentrate production at the Langer Heinrich Mine (LHM) on 30 March 2024. This milestone marks a pivotal moment for Paladin, signaling the end of preparatory phases and the beginning of commercial uranium production.

Ramping Up Operations

With the initial production phase successfully underway, Paladin's focus shifts toward increasing production rates and stockpiling uranium concentrate, preparing for the first batch of shipments to global customers. This transition underscores Paladin’s commitment to reinforcing its position in the uranium market and meeting the growing demand for nuclear energy resources.

Leadership at the Helm

Paladin has appointed its Chief Operating Officer, Paul Hemburrow, to oversee all operations at LHM, ensuring a streamlined and focused approach to achieving operational excellence. This leadership decision is aimed at maximizing the mine’s potential and efficiency during this critical ramp-up period.

A Testament to Collaboration and Resilience

Paladin CEO, Ian Purdy, expressed his gratitude towards the staff, contractors, the Namibian Government, and local communities for their unwavering support and effort in reviving the Langer Heinrich Mine. This achievement not only showcases Paladin’s resilience and strategic planning but also

highlights the mine's global significance in the uranium sector.

With robust fundamentals backing the uranium market and a strong balance sheet, Paladin is poised to deliver sustainable returns, marking a new chapter in the energy narrative and contributing to a cleaner, more sustainable future.

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