The Langer Heinrich
uranium mine
in Namibia
 
Perth, Australia — MININGREVIEW.COM — 11 April, 2008 – Paladin Energy Limited – the Toronto and Australian-listed exploration and development company focusing on uranium in Australia and Africa – expects to achieve close to a three-fold increase in production at its two southern Africa uranium projects in the next two years.

At an open briefing here this week, managing director and CEO John Borshoff said the company expected to produce 2.6M lbs in 2008 at its Langer Heinrich mine in Namibia, and another 1.1 M lbs when Stage Two expansion was completed at the end of this year. “We’re anticipating a 12-month ramp up for Stage Two, and expect to produce 3.1 M lbs in 2009 and 3.7 M lbs in 2010,” he added.

“Our US$167 million (R1.3 billion) Kayelekera project in Malawi is scheduled to start production next year with 1.6 M lbs, doubling up to 3.3 M lbs pa from 2010 onwards,” Borshoff revealed. “Therefore, total company production in Africa will be 4.7 M lbs for 2009 and 7.0 M lbs for 2010,” he said.

Borshoff pointed out that production could be expected to increase even further midway through 2010 when Stage Three expansion at Langer Heinrich would be ready to kick in.

“With Langer Heinrich in production we now have mine production operating skills, and the company has proven itself in exploration, project evaluation, environmental management, construction, operations, financial management and operating offshore,” he enthused.

“At Kayelekera,” he added, “construction is ongoing, the project is fully funded, the long lead items are in the country, we have a mining contractor with a full mining fleet, and in the next few months we will begin erecting the plant, commence open pit mining and establish the operations team.”