Paladin Energy’s Langer Heinrich uranium mine in Namibia produced one million pounds of uranium oxide in the September quarter, down 19% from the previous quarter following a maintenance shutdown and processing plant recovery.

The ASX- and TSX-listed uranium producer reported production of 1.23 million pounds of triuranium octoxide (U₃O₈) in the quarter ended June 30, compared with one million pounds in the three months ended September 30, 2026.

Despite the production decline, Paladin recorded sales of 1.16 million pounds of U₃O₈ at an average realised price of $79.40 per pound. Sales in the preceding quarter totalled 1.35 million pounds.

Managing director and CEO Paul Hemburrow said the September quarter delivered stronger realised prices, although operational challenges affected output. He added that feed grade, plant performance and in-circuit inventory improved during September as the company worked through the shutdown and pit transition.

Mining operations also progressed during the quarter, with 7.73 million tonnes of total material mined, exceeding the previous quarter’s volume.

Activities focused on the J pit, including development towards the main orebody and the removal of topsoil and waste to improve access to uranium-bearing material.

Paladin maintained its production guidance for the 2027 financial year, targeting between 5.1 million and 5.6 million pounds of U₃O₈ at a cost of $44 to $48 per pound.

The company expects production to strengthen in the second half of the financial year as higher-grade ore reaches its processing facility.

“We expect production to increase in the second half of the 2027 financial year and we remain on track to deliver our 2027 financial year guidance,” Hemburrow said.

As of September 30, Paladin held $209 million in cash and investments, alongside an undrawn $70 million revolving credit facility.

Beyond Namibia, Paladin has signed a mutual benefits agreement with the Birch Narrows Dene First Nation government for its Patterson Lake South uranium project in Saskatchewan, Canada.

Exploration drilling has been completed, extending mineralisation at the Atlas and Saloon East discoveries and beyond the existing R1515W mineral resource at the Triple R deposit.

Paladin has also signed an administrative protocol with the Canadian Nuclear Safety Commission targeting the completion of hearings for the project’s construction licence application by the end of 2027.

The company said it was continuing to implement its plans in Namibia and Canada while monitoring potential disruptions arising from geopolitical tensions.