Paladin’s Cost Cutting Measure Harm Production

SMH reported a switch to cheaper chemicals has caused Paladin Energy (TSX:PDN,ASX:PDN) to shut down production at its uranium mine.

As quoted in the market news:

Despite delivering more uranium oxide than ever before, production at Paladin’s Kayelekera mine in Malawi suffered a 6 per cent setback after a new chemical reagent performed badly.

The failure was one of several setbacks across Paladin’s two mines that ensured the company missed its production target for the three months to March, and reinforced its reputation for missing targets.

Click here to read the full SMH report.