Uranium miner Paladin Energy (ASX:PDN) reported a 16% increase in uranium yellowcake production for the second quarter.
The company produced 1.23 million pounds of uranium in Q2, up from 1.07 million pounds in the previous quarter. Paladin now expects full-year production to trend towards the upper end of its guidance range of 4–4.4 million pounds.
The strong results were driven by the continued ramp-up of Paladin's Langer Heinrich mine in Namibia, which is on track to reach full mining and processing operations by the end of the 2026 financial year.
"As global interest in nuclear energy continues to strengthen, I am delighted by our progress in ramping up operations at Langer Heinrich mine," said CEO Paul Hemburrow.
"The new level of production achieved during the quarter highlights the robust performance possible from this strategic uranium asset."
At the time of reporting, Paladin Energy’s share price was $13.16.