Paladin Bullish about Namibia Uranium Project

Written by Martin Lynch, European News Editor for IIR News Intelligence (Sugar Land, Texas)

Summary

Paladin expects its Langer Heinrich uranium mine (LHM) in Namibia will hit full production this July as uranium prices jump thanks to growing demand from a resurging nuclear power sector.

Australia's Paladin Energy said its majority-owned Langer Heinrich uranium mine (LHM) in Namibia will hit full production this July on the back of strong demand and price hikes for uranium. 

The project is one of a number of key uranium projects underway in Namibia, which is the third-largest uranium supplier in the world after Kazakhstan and Canada. Paladin Chief Executive Officer Paul Hemburrow told Reuters from an investor visit to the mine: "We've had five quarter-on-quarter improvement in volumes and expect that trend to continue into FY27, so we expect an absolute cracker of a year. Higher prices are good for everybody." Uranium prices hit a two-year high in January of US$101 per pound in January driven by the global push for more nuclear energy and supply constraints. Prices have since fallen back to US$85 and US$90 per pound this month, which are still noticeably better than 2025's average of US$60 per pound. 

Langer Heinrich Mine

To date LHM, located in the Erongo Basin, has produced more than 49 million pounds (Mlb) of U3O8 or 'yellowcake,' with an estimated 77 Mlb pounds of uranium ore reserves. Discovered in the early 1970s, Paladin bought the project in 2002 and commenced mining operations in 2007. It was operated until 2018 when it was placed on care and maintenance. The mine was successfully restarted in March 2024. 

Namibia's Uranium Push

Namibia consolidated its No. 3 spot in uranium production in 2025 supplying 10,000 metric tonnes (roughly 22Mlb) of U3O8  for the first time. Uranium exports account for almost 16% of Namibia's 2024 GDP from primary industries. The country's Namibian Uranium Institute believes the country can double its output to 20,000 tonnes annually thanks to planned new projects and the ramping-up of existing mines. 

Industrial Info is tracking 25 uranium-related projects worth US$3.8 Billion in Namibia. Thirteen of those are grassroot projects and account for more than 90% of all spending. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the reports. The country has two other significant uranium mines, Rössing and Husab. Leading projects underway include Bannerman Energy's Etango Mine and Deep Yellow's Tumas Mine. The Etango mining project, also located in the Erongo Basin, has resources of 207 Mlb of contained U3O8, with production expected to start in 2029. 

A Nuclear Future

The country has also expressed interest in building its first nuclear power project. The president of Namibia, Netumbo Nandi-Ndaitwah, stated that the country would start  negotiations to build its first nuclear power facility, which would reduce its heavy dependence on energy imports from South Africa and allow it to use its own uranium. The country wants to join the Nuclear Suppliers Group (NSG), the international body that sets rules for the export of nuclear technology and materials to prevent their use in weapons. Last month, Russia's Rosatom said that Russia and Namibia are negotiating an agreement to cooperate on peaceful nuclear energy development, following a visit to Moscow by a Namibian delegation. Rosatom said it is also on track to complete its uranium exploration activities in Namibia this year with a view to commencing mining in 2029. Speaking to Sputnik, Ryan Collyer, chief executive officer of Rosatom Central and Southern Africa, said: "We see Namibia as a highly promising partner in the field of nuclear energy... not only as a resource-rich nation, but also as a forward-thinking country with the potential to become a regional leader in low-carbon energy." 

Key Takeaways

• Paladin's Langer Heinrich uranium mine (LHM) in Namibia will hit full production this July.
• Namibia was the third largest global supplier of uranium in 2025.
• Industrial Info is tracking 25 uranium-related projects worth US$3.8 Billion in Namibia.

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Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).