Langer Heinrich Drives Paladin’s Revenue Growth in Q3 2025

Paladin Energy Limited has reported a strong operational performance for the quarter ended 30 September 2025, driven entirely by the revitalised Langer Heinrich Uranium Mine in Namibia. Following its successful restart earlier in 2025, the mine has rapidly become the exclusive revenue engine for the group, generating US$35.9 million in sales. This momentum has significantly strengthened Paladin’s financial position, particularly by tripling its cash reserves, and it underscores the mine’s strategic importance as the company moves toward achieving steady state production in 2026.

The quarter’s results reflect meaningful gains in operational efficiency and disciplined cost management. Langer Heinrich delivered 100 percent of the group’s revenue, contributing to a segment profit before interest and tax of US$1.8 million. Group gross profit also rose to US$7.9 million, supported by lower operating costs and process improvements at the mine. However, group revenue declined year on year from US$43.8 million to US$35.9 million, primarily due to comparative differences in sales volumes. Despite this, the net loss after tax narrowed slightly to US$9.9 million from US$10.4 million, indicating improved financial resilience. Cost of sales fell sharply to US$28.1 million from US$39.9 million, while inventories increased to US$144 million as uranium output continues to ramp up.

Paladin also bolstered its balance sheet through an equity raising of A$300 million, which will support ongoing growth initiatives across its Namibian and Canadian assets. Namibian operations now account for approximately 41 percent of total group holdings, reinforcing the country’s central role in Paladin’s long term strategy. The company maintained its debt facility with Nedbank and Macquarie Bank and preserved an additional US$50 million in undrawn credit, providing financial flexibility for future investment. Legal actions underway in Australia are not expected to impact the company’s operations in Namibia, clearing the way for uninterrupted development. With Langer Heinrich estimated to reach full operational capacity in 2026, production levels are set to increase progressively over the coming quarters.

The sustained growth of Langer Heinrich has significant implications for both Paladin and Africa’s broader mining landscape. As global uranium prices strengthen in response to rising demand from nuclear power expansion, reliable Namibian production positions Paladin to capture greater market share and deliver improved margins. For Africa’s uranium sector, the ramp up demonstrates how reinvestment in established assets can generate substantial economic value, enhance export revenue and reinforce the continent’s relevance in international nuclear fuel supply chains.

Mini Glossary

• Steady state production, the phase when a mine reaches stable, long term operating levels.
• Segment profit before interest and tax, the earnings contribution of a specific business segment before financing and tax expenses.
• Equity raising, the process of issuing new shares to generate capital for corporate growth.
• Undrawn credit, available loan capital that has been approved but not yet used.
• Inventories, accumulated unsold production held for future sale or processing.