Uranium miner Paladin Energy has reported a 16% quarter-on-quarter increase in uranium production at its Langer Heinrich mine (LHM) in Namibia as operations continue to ramp up towards full mining and processing by the end of the 2026 financial year.

Uranium oxide (U3O8) production in the second quarter of the 2026 financial year rose to 1.23-million pounds, from 1.07-million pounds in the previous quarter, driven by an uplift in ore feed grade as a higher proportion of mined ore was processed. Year-to-date production totalled 2.30- million pounds.

Strong production in the first half of the financial year has positioned the company to deliver towards the upper end of its full-year guidance range of 4.0- to 4.4-million pounds of U3O8.

Sales volumes for the quarter were 1.43- million pounds, compared with 0.53-million pounds in the September quarter, with the average realised price improving to $71.8/lb, up from $67.4/lb previously. Paladin attributed the performance to the quality of its contract book and a strengthening uranium price environment.

The cost of production declined to $39.7/lb in the December quarter, from $41.6/lb in the prior quarter, resulting in a year-to-date average production cost of $40.5/lb.

Beyond Namibia, Paladin completed mobilisation for its winter drilling programme at the Patterson Lake South (PLS) project in Canada as exploration and permitting activities continue.

The company also reported a strengthened balance sheet following the completion of its share purchase plan and the restructure of its syndicated debt facility. At quarter- end, Paladin held cash and investments of $278.4-million, alongside an undrawn $70-million revolving credit facility.

Leadership appointments during and after the quarter included the commencement of Dale Huffman as president, Paladin Canada, in October 2025, and Scott Barber as COO after quarter-end.

MD and CEO Paul Hemburrow said the operational momentum at Langer Heinrich reflected the quality of the asset and the progress of the ramp-up strategy.

“As global interest in nuclear energy continues to strengthen, I am delighted by our progress in ramping up operations at Langer Heinrich mine. The new level of production achieved during the quarter provides insight into the robust performance that can be achieved from this strategic uranium asset,” he said.

“Our site team’s goal is to continue delivering a consistent operational performance for the remainder of this financial year.”

Hemburrow added that organisational capability was strengthening across the group. “The capability of our Canadian team is growing under the leadership of Dale Huffman as president of Paladin Canada, with exploration and permitting workstreams advancing at PLS project,” he said.

“Completion of the debt restructure has provided additional balance sheet flexibility to support the continued ramp-up at LHM and progress the PLS project. As a group, we are focused on improving production volumes and ensuring capability to deliver a multi-decade production pipeline for the market and to drive value for our shareholders.”