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Paladin Energy Ltd. (TSX:PDN,ASX:PDN) announced it is reviewing its cost and production plans as it moves its uranium project to sustained production from development.
Paladin Energy Ltd. (TSX:PDN,ASX:PDN) announced it is reviewing its cost and production plans as it moves its uranium project to sustained production from development.
As quoted in the press release:
Focus on improving operational efficiency will be an ongoing objective with substantial gains expected over the next 2 years. This optimisation exercise has now become even more relevant with the recent weakening of the uranium spot price. Although, in Paladin’s opinion, this price decrease does not detract from the very strong fundamentals of this commodity in the mid to long term. The cost review encompassed examination of all activities within the Paladin Group from its mining operations, corporate/administration overheads, future development considerations, exploration, sales and business development some of which is still ongoing. Opportunity for re-negotiation of key mining and consumables contracts has arisen, paving the way for material cost reductions over the next 2 years. Paladin expects to realise total savings of US$60M to US$80M during FY2013 and FY2014.
Click here to read the Paladin Energy Ltd. (TSX:PDN) press release.
