Paladin signs new uranium sales deals

Uranium miner Paladin Energy says a new series of uranium sales agreements - signed at well above spot prices - vindicates its confidence in the long-term outlook for the yellow metal.

The term sales agreements, for uranium product from Paladin's Langer Heinrich Stage 3 expansion in Namibia, were signed with three new customers in the US, and further strengthened Paladin's presence in that market.

Production commitments from the new agreements would be more than 2.8 million pounds of triuranium octoxide (U3O8), with deliveries beginning in 2012 and extending through to 2016.

Pricing would be the low to mid $US60s per pound of U3O8.

Paladin said it was reasonably expecting to enter into further term agreements in the coming months.


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165thPaladin Energy62%-28%
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