.
Paladin Energy Limited (ASX:PDN) has posted a fall in first quarter production, in line with its expectations as one of its mines undertook a planned maintenance shutdown in August.
The uranium miner says total output from its Langer Heinrich and Kayelekera mines in Africa dropped 5.8 per cent to 1.929 million pounds in the three months to the end of September 2012.
CEO John Borshoff says the global uranium market continues to be negatively impacted by the restart schedule for Japanese reactors, post the Fukishima earthquake early 2011.
Mr Borshoff advises the off-line Japanese plants constituted less than seven per cent of the world’s annual uranium requirements this year and the global commitment to nuclear power remains resolute.
Shares in Paladin Energy closed steady at $1.23 after the announcement was made yesterday.
Paladin Energy extended its annual net loss of $197 million in the 2012 financial year.
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