Langer Heinrich’s production tumbles
Uranium oxide production at Langer Heinrich slumped by 47% from the March to the June quarter following the decision by Paladin Energy, its majority shareholder, to put the mine on care maintenance. Results released by Paladin yesterday show production of 354 465 pounds in the past quarter, 315 991 pounds less than the previous three months. Compared to the June quarter in 2017, production fell by nearly 53%. The amount of drummed uranium oxide decreased by 30% to 515 774 pound quarter on quarter and nearly 26% year on year. Langer Heinrich’s C1 cash cost of production for the past quarter was US$34.55 per pound, up nearly 16% from the previous one and nearly 38% higher than the second quarter of 2017. The process to put Langer Heinrich on care and maintenance will be completed by August. Photo Nampa/Reuters
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