- The Langer Heinrich mine is expected to produce 77 million pounds of uranium over its operating life once it begins production again in 2024.
- Paladin Energy has two other exploration assets in Australia and one in Canada.
- The results of the latest international conference on Climate Change called for a tripling of global nuclear energy capacity by 2050.
Nuclear energy as a solution to the world’s accentuating climate crisis was cast aside following the Fukushima nuclear accident in Japan in March 2011.
More than a decade later, nuclear energy is back in the mix, and Paladin Energy is ready. The company owns 75% of the Langer Heinrich Mine in Namibia, with a historical track record of mining 43 million pounds of uranium over ten years before it was shuttered. The mine is now expected to resume production in the first quarter of 2024, with Paladin having a portfolio of offtake agreements already in place.
For 28 years, the United Nations has been sponsoring an annual climate change conference. At the 28th conference held in Dubai in late 2023, the United States, Japan, France, and 19 other nations agreed to triple the nuclear power supplies in their countries by 2050. China and India are the current world leaders in constructing nuclear power plants.
Over five years, the Paladin Energy share price is up 496.15%.
Source: ASX
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An analyst at Fairmount Equities points to the 60% rise in the uranium price in Calendar Year 2023 up to 21 December with an expectation that prices will continue to rise in 2024, commenting that Paladin Energy (PDN) is one of the best Australian companies to benefit from rising uranium prices.
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