Paladin Energy Ltd (ASX:PDN) is evaluating the potential of the U-pgrade process on beneficiating low-grade uranium ore at Langer Heinrich Mine in Namibia.
Significantly, initial studies indicate that the U-pgrade process could add 1.5 to 1.8 million pounds per annum of production to Langer Heinrich, an increase of ~40%.
Furthermore, the studies indicate overall average site costs would reduce by US$1-2 per pound.
READ: Paladin Energy is back to being the ASX’s largest pure-play uranium producer
Paladin only recently recommenced trading on the ASX after a successful recapitalisation was completed.
It is the world’s 8th largest uranium company and largest pure-play uranium producer trading on the ASX.
Langer Heinrich is a strategic tier one mine
The Langer Heinrich uranium mine is the lowest cost open-pit uranium mine globally.
It is also the fourth largest open-pit uranium mine globally and a top-10 uranium mine by production.
At current processing rates, the mine has over 20 years of mine life remaining.
Uranium market: green shoots leading into 2018
Positive supply and demand changes in the uranium market are already driving prices off their CY16 and CY17 lows.