The Langer Heinrich Mine (LHM), has spent just over N$1,15 billion (US$61 million) over the past financial year, through the acquisition of local various products and services to strengthen its operations.
This investment follows the successful restart of LHM, establishing it as a cornerstone in Paladin’s ambition to become a leading uranium producer worldwide.
Operated by Australian company, Paladin Energy, the Langer Heinrich Mine is one of the largest uranium reserves in Namibia having estimated reserves of 57,000 tonnes of ore grading 0.055% uranium.
In its recent sustainability report, the mine highlighted its positive impact towards the local economy and commitment to employing local talent.
Currently, over 460 staff are employed at LHM, with Namibians making up 98% of the workforce.
The local workforce is a critical component in Paladin’s efforts to elevate Namibia’s role in the global uranium market, the report said.
Since the project’s restart, LHM has achieved over 2.5 million work hours without any major injuries or environmental incidents.
The mine has relied on stockpiled ore to sustain production, with full mining operations anticipated to resume by the 2026 fiscal year.
This strategic shift is expected to bolster Namibia’s position in the global uranium supply chain, with production expected to reach six million pounds of uranium annually.
Paladin has embraced best practices in Environmental, Social, and Governance (ESG) standards to adapt to evolving international regulations.
The company emphasises sustainability across all operations, aiming to align and report its ESG performance with international standards.
According to the sustainability report, Paladin complies with the World Bank’s Environmental and Social Framework through the International Finance Corporation (IFC) Sustainability Framework.
It also aligns its disclosures with the Sustainability Accounting Standards Board (SASB), Global Reporting Initiative (GRI), and Task Force on Climate-Related Financial Disclosures (TCFD) to enhance transparency.
In October 2023, Paladin renewed its Environmental Clearance Certificate (ECC) for LHM, further underlining its commitment to responsible mining practices.
The company has also adopted digital platforms to monitor environmental metrics, including Scope 1 and 2 emissions, as well as water and energy consumption, with plans to track Scope 3 emissions underway.
Amid global uranium supply chain disruptions driven by geopolitical factors, including tensions in Niger and the Russia-Ukraine conflict, Paladin has solidified its position as a reliable uranium supplier from a stable jurisdiction.
Recent U.S. legislation banning Russian uranium imports has amplified the need for supply diversification – demand Paladin is well-positioned to meet as Namibia’s leading uranium producer.
