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Corporate ValuesChairman's Letter
Skip Navigation LinksOverview > Key Achievements

key Acheivements


We've set our sights high

  • LANGER HEINRICH MINE IN NAMIBIA AT STAGE 2 DESIGN OF 3.7Mlb FOR PAST TWO YEARS . STAGE 3 EXPANSION TO 5.2Mlb ON TRACK FOR EARLY 2012, WITH PROVEN MODERN URANIUM EXTRACTION TECHNOLOGIES AND CONSISTENT PRODUCTION PERFORMANCE.
  • KAYELEKERA MINE IN MALAWI RAMPING UP TO 3.3Mlb AND NEAR NAMEPLATE PRODUCTION WITH ONGOING FOCUS ON OPTIMISATION TO INCREASE CAPACITY.
  • NEW PRODUCTION WITH STAGED ORGANIC GROWTH OF EXISTING MINES TO 2015.
  • INVENTORY OF 550.3Mlb U3O8 IN PROJECT PIPELINE.
  • PALADIN HAS UNIQUE EXPERTISE ACROSS THE WHOLE URANIUM SPACE FROM GEOLOGY TO RESOURCE EXPANSION, DEVELOPMENT, FINANCING AND MARKETING.
  • PALADIN IS CURRENTLY THE WORLD’S NINTH LARGEST URANIUM PRODUCER BY VOLUME, SUPPLYING AROUND 4% OF THE WORLD MARKET.


KEY ACHIEVEMENTS FOR THE YEAR

2010

September

Launched takeover offer for NGM Resources Limited, completed October 2010 establishing footprint in Niger.

October

Significant mineral resource upgrade for Langer Heinrich Mine. Ore reserve increased 104% to 134.1Mlb U3O8.

October

Successful raising of US$300M through the issue of senior Convertible Bonds due November 2015.

December

Maiden resource of 10.3Mlb U3O8 at 0.06% issued for the Odin deposit adding to the Mount Isa projects resource inventory.

2011

January

Buy back of US$250M Convertible Bonds expiring December 2011 completed.

February

Acquisition of the Aurora uranium assets in Eastern Canada (at US$1.90 per resource pound) added a significant project to Paladin pipeline.

June

Langer Heinrich Mine achieved all time monthly record production of 355,513lbs.

What we set out to do in 2011

  • Complete Stage 3 construction at Langer Heinrich Mine with ramp-up commencing early CY2011.
    Delayed due to engineering and equipment issues
  • Progress Stage 4 Langer Heinrich Mine feasibility study.
    Ongoing according to schedule
  • Optimise production at Kayelekera Mine.
    Due to new resin-in-pulp technology, achieving nameplate taking longer
  • 2011 production objective of 7Mlb.
    Langer Heinrich Stage 3 delays and Kayelekera ramp-up slower than anticipated
  • Ongoing implementation of NOSA health and safety system.
  • Continue resource expansion at Mount Isa.
  • Develop Paladin’s term contract sales to targeted levels.
  • Ongoing commitment to global exploration.
  • Continue to populate Paladin’s growth pipeline through M&A and expand through organic growth.
  • Focus on talent management and career development across the Group.

What we plan to do in 2012

  • Complete Stage 3 expansion at Langer Heinrich Mine with commissioning September quarter 2011.
  • Ramp up production to design levels at Kayelekera Mine.
  • Deliver Stage 4 Langer Heinrich Mine feasibility study by end of CY2011.
  • 2012 production guidance in the range of 7.4 to 7.9Mlb U3O8.
  • Resource update for Kayelekera Mine.
  • Continue to advance NOSA health and safety system rating for Langer Heinrich and Kayelekera Mines.
  • Commence sustainability reporting.
  • Ongoing commitment to global exploration.
  • Expand production through organic growth.
  • Seek value increase in existing pipeline projects through joint venture and M&A.
  • Optimise production and costs at Langer Heinrich and Kayelekera Mines.
Not achievedOngoingAchieved
© 2011Paladin Energy Ltd
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