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Message from the Chairman

I am pleased to present Paladin’s fifth consecutive Sustainability Report, the cornerstone reporting as part of our commitment to transparency and accountability to our stakeholders.

Paladin, through its Board of directors, senior management and indeed all employees, is highly conscious of the fact that, as a uranium miner, it comprises part of the nuclear electrification industry. The various components of the nuclear industry (uranium mining, conversion, enrichment, fabrication, reactor builds and operation) are carried out under the strictest, internationally regulated compliance regime. Sustainability is a critical component of this regime.

The Board and management regard the work required to prepare the Company’s annual Sustainability Report as an important tool to assist in the ongoing analysis of the effectiveness of its sustainability practices. It also enables the Company to modify such practices, where required, in line with emerging global standards and stakeholder expectations.

At the Langer Heinrich Mine in Namibia, focus continued on improvements to efficiency and cost reduction, without diminishing emphasis on safety and environmental practices.  The Kayelekera Mine in Malawi remains on care and maintenance and the important aspects of that programme are to ensure that the security of the mine and personnel, and the protection of the environment by treating stored water on site to a quality suitable for safe planned discharge.

The market conditions for uranium miners deteriorated further during the reporting period and has continued to present challenges to Paladin.  However, careful oversight, the implementation of difficult but necessary actions and the maintaining of core technical competencies (including those relevant to sustainability) will allow the Company to maintain Paladin’s operational and financial sustainability.

Paladin Energy Ltd

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TradeTech U3O8 spot US$20.40/lb
TradeTech U3O8 long term US$34.00/lb

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