Uranium explorer Paladin Resources Ltd has secured its second sales contract for a portion of its yellowcake production from the Langer Heinrich uranium mining project in Namibia.
Uranium explorer Paladin Resources Ltd has secured its second sales contract for a portion of its yellowcake production from the Langer Heinrich uranium mining project in Namibia.
The sales contract – with a major unnamed US utility – is for the purchase of 2.1 million pounds of yellowcake for delivery between 2007 and 2012. It represents Paladin’s second sales contract of yellowcake from the mining project and brings sales to 4.2 million pounds.
The company has advised pricing will be market related to be determined at the time of each delivery with escalating floor and ceiling price components.
In its quarterly report for period ending December 31 2005, the company said that, by the end of that period, the project was 31 per cent completed and almost 70 per cent of the construction budget had been committed.
The uranium miner believes the lack of new companies entering the uranium market in the past 25 years reflects a period of dismal outlook and a uranium mining industry essentially in retreat.
Paladin’s second uranium project, Kayelekera in Malawi, is expected to go into production in 2008.
Neptune wins navy painting contract
The Australian Navy has awarded listed underwater welding technologist Neptune Marine Services Ltd its first hull painting contract at Garden Island off Rockingham.
This follows the successful adaptation by Neptune Marine of its specialist welding housing to enable large areas of hull to be painted underwater without threat to the environment, cutting drying times and minimising the need for vessels to be dry docked for similar maintenance.
“This is the second breakthrough for the company in as many weeks and follows our recently announced first contract in the oil and gas sector – the repair of an offshore fuel line in the Cocos Islands,” Neptune Marine executive director Clive Langley said.
“We had signalled in our prospectus the potential for the underwater welding housing and its ability to produce a ‘dry’ environment, to have equal application for underwater painting as it does welding.
“Neptune has reconfigured the housing to suit a paint applicator and this has now secured our maiden contract for such work.”
The naval contract will commence at Perth’s Garden Island facility this week and take about six days to complete.
