Paladin eyes $50/lb pricepoint for restart

Paladin eyes $50/lb pricepoint for restart

KALGOORLIE (miningweekly.com) – Uranium company Paladin Energy is awaiting a spot price of $50/lb or more for uranium before restarting its Langer Heinrich uranium operations, in Namibia.

Speaking on the sidelines of the Diggers & Dealers conference, Paladin CEO Ian Purdy noted that the current spot market price was not sufficient to tempt the company into restarting production. “The price isn’t there, and we will not restart early. We will not go back into operation until we can make decent returns. We are not being greedy, we just need a decent return to our mining operation.”

Purdy said that while an increase in the spot price could not be timed, there were indications that a market shift was imminent, as major producers were cutting back on production and global stockpiles were dwindling. “You can’t outrun the math. There is a 20-million- to 40-million-pound deficit right now, and no one can tell […]

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