Paladin withdraws FY25 production guidance after Namibia rainfall

Paladin Energy Ltd (JSE:PDN) has withdrawn its FY2025 production guidance for the Langer Heinrich Mine (LHM) following a one-in-fifty-year rainfall event in Namibia. The heavy rainfall disrupted mining operations, including equipment mobilization, personnel access, and ore processing. While the processing plant sustained no significant damage, access roads and minor civil infrastructure were impacted. Paladin anticipates improved production levels in the second half of CY2025 through ore blending but no longer expects to achieve a nameplate run-rate of 6Mlb by the end of CY2025. The company will provide further details in its March 2025 Quarterly Activities Report, with FY2026 guidance expected in August 2025. A conference call to discuss the update will be held today.