The study, which focused on “a rapid, low-capital and low-risk restart”, indicates that the initial capital needed is US$80m, including US$38m for plant repair and improvement and US$42m for working capital.
The mine would have a production capacity of 5.2 million pounds of uranium ore a year while processing high and medium grade ore for about eight years. This would be followed by a production capacity of 2.7 million pounds a year while processing low grade ore for about 12 years.
Langer Heinrich was put into care and maintenance in August 2018 due to the sustained low uranium price.
Paladin completed a concept study in February 2019 that identified multiple options to reduce operating costs and improve plant performance.
Langer Heinrich is an open-pit mine which began operations in 2006. It produced 1,294 tonnes of uranium (tU) in 2017, its last full year of operations, and 394 tU in the first six months of 2018 before being placed on care and maintenance.
Estimated mineral resources are 41,022 tU3O8 (34,787 tU) of measured and indicated resources and 4,073 tU3O8 of inferred resources, with stockpiles of 12,915 tU3O8.
