Sales revenue from Langer Heinrich was 71% higher in the 2026 financial year than in 2025 after the mine reached full operation in June.
Langer Heinrich is one of Namibia’s three major uranium mines and is 75% owned by Australian-listed Paladin Energy.
Paladin’s 2026 financial results, announced on Wednesday, showed the company sold US$ 304.3 million (about N$4.85 billion) worth of uranium oxide.
“The 2026 financial year’s performance reflected the successful ramp-up of Langer Heinrich, with higher uranium production and sales volumes driving a significant increase in revenue,” the company’s annual report says.
Uranium prices have also remained high, driving higher sale prices.
“The Namibia-operating segment generated profit before income tax and finance costs, demonstrating the operating leverage of Langer Heinrich mine, following the successful completion of ramp-up,” the report says.
Paladin reopened operations at Langer Heinrich in early 2024. The mine had been placed in care and maintenance in 2018, after a long period of low uranium prices.
The company started preparing for restarting operations in 2022, with the first uranium produced in March 2024. Mining restarted in April 2025.
The remaining 25% of Langer Heinrich is owned by a subsidiary of China National Nuclear Corporation.
