Production at Paladin Energy’s Langer Heinrich Uranium in the Erongo Region has dropped by more than a quarter to 896 070 pounds, in the four months ended 31 March, the company said this week. Paladin said production and unit costs were impacted by the first full quarter of a planned reduced production.
Uranium market
Commenting on uranium prices, Paladin said the TradeTech weekly spot price average for the March 2017 quarter was US$24,08 per pound, an increase of 22 percent compared to the December 2016 quarter and a 26 percent decrease compared to the March 2016 quarter.
Following price increases at the start of the year, the uranium spot price has traded over a range of US$22/US$26,50 per pound since late January and currently stands around US$23,50 per pound.
The board of directors of Électricité de France (EDF) resisted government pressure to announce the permanent closure of France’s oldest nuclear reactor, Fessenheim.
In response, the Government issued a decree specifying that the plant must close once the new Flamanville 3 plant comes into operation.
Fessenheim’s ultimate fate may now be decided by the winner of the current French presidential election.
‘’Paladin remains hopeful that a recovery in the uranium market is underway, albeit in its early stages. However, anticipated utility activity has been slow to manifest and future spot price increases and stability remain reliant on a more substantive re-engagement by utility end-users of uranium,’’ the company said.