Top Navigation

Background

The Langer Heinrich Mine (LHM) is located in the Namib Desert, 80km east of the major seaport of Walvis Bay and about 40km south-east of the large-scale, hard-rock Rössing uranium mine (Rössing Project) operated by the Rio Tinto Group.

The deposit was discovered in 1973 after a government-sponsored airborne radiometric survey of the area. Between 1974 and 1980, General Mining Union Corporation Limited (Gencor) undertook extensive evaluation work at the site and suspended work on the project in the mid-1980s, following a fall in the prevailing uranium price. Acclaim Uranium NL acquired the project from Gencor in 1998 and completed a pre-feasibility study in 1999-2000. The project was again put on hold due to prevailing uranium prices.

In August 2002, the Company acquired Langer Heinrich Uranium (Pty) Ltd and its assets from Aztec Resources Ltd (formerly Acclaim Uranium NL). The purchase consideration was A$15,000 and a production royalty of 12 Australian cents per kilogram of yellowcake produced and sold.

On 23 July 2014 the sale process for a 25% stake in Langer Heinrich to CNNC Overseas Uranium Holding Limited, a wholly owned subsidiary of China National Nuclear Corporation (CNNC), was completed.

As announced on 25 May 2018 the Company received the consent of relevant stakeholders to place LHM into care and maintenance, and has now stopped presenting ore to the plant.

There will be a ‘run-down’ phase of up to three months where various stages of the plant will be progressively suspended and cleaned.  During that time there will be some continued production of finished uranium. Once the run-down phase is complete operations will have been completely suspended and LHM will be on care and maintenance.

Latest prices

ASX A$ 0.20

Latest Prices

TradeTech U3O8 spot US$28.85/lb
TradeTech U3O8 long term US$31.00/lb

Contact Paladin

Subscribe

Newsletter form

SIGN UP TO OUR NEWSLETTER

First Name
Last Name
Email Address