The company posted an impairment of $54.9m on the mine for Q4 2012 alone.
Kayelekera’s cost of production for the quarter ending December 2012 decreased 11.3% to $43.50 per lb uranium oxide.
Cost of production at Paladin’s flagship Langer Heinrich Mine in Namibia for the quarter decreased 7% to $29.60 per lb uranium oxide.
Both mines are now operating at nameplate performance and Paladin expects to continue efforts on production optimization to increase recoveries and reduce unit operating costs.
Half year combined production was reported at 4.120 million lb U3O8, an increase of 34% compared to the corresponding period last year.
December 2012 half year result was affected by a 16-day planned annual maintenance shutdown at Kayelekera.
Meanwhile, Paladin plans to provide an interim framework for the recommencement of uranium mining in Queensland, following the state Government’s decision to lift its ban on uranium mining in October 2012.
An Implementation Committee report for the same is expected in March 2013.
