US$141m Project Finance Facility for Langer Heinrich Stage 3 Expansion
Paladin Energy Limited commissioned the Langer Heinrich Uranium mine in Namibia in 2006. In 2010 Paladin commenced the Stage 3 expansion project to increase annual production to 5.2Mlb pa from 3.7Mlb. The construction of the project was initially funded by Paladin’s existing cash reserves and in August 2011 Paladin executed a US$141m Project Finance Facility provided by a syndicate of international banks including Societe Generale, Nedbank Capital, Standard Bank Plc, Barclays Capital and Rand Merchant Bank. Azure Capital assisted Paladin on this debt financing.