Paladin Energy Ltd

Paladin Energy operates the Langer Heinrich uranium mine in Namibia, a conventional open-pit operation with heap leaching that delivers low-cost uranium oxide production. The company also holds exploration assets in Canada, including the Michelin deposit. In the nuclear renaissance, Paladin plays a key supply role by ramping up output to meet surging global uranium demand from reactor builds in China, data centers, and energy security shifts, helping fill deficits projected by the World Nuclear Association through 2040.

Over the past year, Paladin restarted Langer Heinrich in February 2024 after a six-year hiatus, achieving first shipments in April and guiding for 2.5-3.5 million pounds U3O8 in FY2025 at all-in costs around $30-35 per pound. Key risks include ramp-up delays from water supply issues in arid Namibia, uranium spot price volatility amid Russian supply bans, and geopolitical tensions in the region that could disrupt operations or permitting.

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