Paladin Energy Limited (Stock symbols – ASX: PDN, OTCMKTS: PALAF) develops and operates uranium mines in Australia, Canada, and Africa.
The company operates through Exploration, Namibia, Malawi, and Australia segments.
The company was formerly known as Paladin Resources Ltd and changed its name to Paladin Energy Limited in November 2007.
Its flagship project is the Langer Heinrich mine open pit mine located in the Namib Desert in Namibia approximately 50 miles east of Walvis Bay, Namibia.
The company currently controls a 75% stake in the mine.
The remaining 25% ownership stake was acquired by CNNC Overseas Uranium Holding Limited, a subsidiary of China National Nuclear Corporation (CNNC), in July 2014.
The Langer Heinrich mine is a long lived mine with significance for global nuclear power utilities.
The mine has already produced over 40 million pounds of U3O8 since its discovery in 1973 to date.
Notably the Langer Heinrich mine is the lowest cost open pit mine globally.
Uranium production operations at Langer Heinrich were suspended in 2018 due to low uranium prices.
The company also owns a global portfolio of uranium exploration and development assets including Michelin in Canada with 127 million pounds of uranium; Mount Isa with 148 million pounds of uranium, and Manyingee with 41 million pounds of uranium, both in Australia.
The company was incorporated in 1993 and is based in Subiaco, Australia.
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