Full financial support has been finalised for an addition at a Namibian uranium mine, while Australian and US projects have reached more regulatory milestones, and a production raise is planned in Kazakhstan.
Paladin Energy has finalised the financing for the phase 3 expansion of its Langer Heinrich uranium mine in Namibia, A $141 million project financing ability is being provided by a syndicate of banks inside which Société Générale, Nedbank Capital and Standard Bank which provided the project finance for the primary Langer Heinrich construction project are joined by Barclays Capital and Rand Merchant Bank.
Paladin's own cash reserves have been used to fund the primary development for the expansion project, which is now entirely financed and on track to reach nameplate capacity in the first quarter of 2012, The expansion will raise the mine's annual output from 3.7 million pounds U3O8 (1425 tU) to 5.2 million pounds U3O8 (2000 tU).
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