Paladin Resources` new uranium mine in Namibia will generate N$1.5 billion (US$201.8 million) in foreign exchange every year, says managing director John Norshoff.
The Langer Heinrich mine, situated 80 km (50 miles) east of the Namibian port of Walvis Bay, will also generate N$35 million in royalties for the government, Borshoff said today at a ceremony to mark the official opening of the mine.
"It`s an important milestone for the uranium industry as it represents the revival of the world`s nuclear industry," Borshoff said.
Uranium miners are increasing production after prices more than doubled in the past 12 months.
Paladin has spent N$620 million (US$83.8 million) developing the mine. (March 15 Bloomberg)
paladin mine to generate more
Add PDN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$13.70 |
Change
0.150(1.11%) |
Mkt cap ! $4.089B | |||
| Open | High | Low | Value | Volume |
| $13.86 | $13.90 | $13.63 | $23.05M | 1.682M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1631 | $13.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.71 | 1905 | 2 |
View Market Depth
| Last trade - 16.10pm 19/06/2024 (20 minute delay) ? |
| PDN (ASX) Chart |