Paladin pulls uranium target after Namibia mine flooded

AUSTRALIAN uranium miner Paladin Energy withdrew its production forecast for 2025 following heavy rainfall at its Langer Heinrich mine in Nambia, described by the company on Wednesday as a “one-in-fifty-year rainfall event”.Rainfall soaked ore stockpiles and interrupted access to the mine’s processing facilities. Access to the mine was also interrupted owing to road infrastructure damage. Paladin said the processing facility “appeared” to be undamaged by the weather.However, mobilisation of key mining equipment and personnel to site was also affected while water ingress into the open mining pits would also delay access despite “adequate” pumping infrastructure which would eventually de-water the pits.Shares in Paladin fell nearly 12% on the Australian Securities Exchange. Today’s announcement represents another blow to the company’s efforts in accelerating output of uranium oxide. It cut production forecast last year following ramp-up difficulties which required a maintenance shut down.Paladin said it expected the processing plant would “return to normal” operation as the in-circuit inventory and chemistry stabilises and stockpiled ore saturation levels decrease. But for this year, its previously forecast nameplate run-rate guidance of six million pounds by the end of 2025 was no longer possible.Paladin previously said on March 21 that it had suspended production from Langer Heinrich following the heavy rainfall. “The full impact of the weather event and disruption to production will be assessed when conditions have stabilised,” it said at the time. Shares in the company are 60% lower over the last 12 months.The post Paladin pulls uranium target after Namibia mine flooded appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com