The Langer Heinrich Royalty was created pursuant to a letter agreement dated May 31, 2002, between Paladin Resources Ltd. (now Paladin Energy Ltd.), through its subsidiary, Paladin Energy Metals Ltd. (now Paladin Energy Minerals NL) and Aztec Resources Limited. Such royalty interest was subsequently acquired by Mega Redport Pty Ltd., a wholly owned subsidiary of Mega Uranium Ltd. The Langer Royalty is a PR royalty of A$0.12 per kilogram of U₃O₈ produced from the Langer Heinrich Mine and sold by Paladin and Paladin Energy Metals Ltd.

In an ASX Announcement dated March 21, 2025 Paladin Energy Ltd. (“Paladin”) announced that, as a result of unseasonal heavy rains, access to the Langer Heinrich mine had been impacted and all operations had been temporarily suspended. On March 26, 2025, Paladin announced that operations had resumed at the mine following the temporary suspension. The mine had experienced a one-in-fifty-year rainfall event. This impacted Paladin’s plans to accelerate the commencement of mining and resulted in short-term disruptions to operations. These included the transport of people to site, restricted feed to the crushers due to the saturation of stockpiled ore, and excess surface water restricting safe access to the processing plant. Paladin expected the processing plant to return to normal operation as the in-circuit inventory and chemistry stabilises and stockpiled ore saturation levels decrease. Paladin was advancing the early commencement of mining to access higher grade ore. The disruption to early commencement of mining, together with the short-term impact of the suspension of operations, and the difficulties associated with processing saturated stockpiled ore, resulted in Paladin withdrawing production guidance for FY2025. Paladin still expects to improve production levels in the second half of CY2025 with the blending of ore from the open pit mines. However, the disruption to the anticipated start of mining means that the Company does not expect the mine to achieve nameplate run-rate guidance of 6 Mlb. by the end of CY2025. The acceleration of mining was a key initiative in offsetting the underperformance of stockpile ore and achieving nameplate production.

In an ASX Announcement dated November 12, 2024, Paladin announced revised guidance on production at the Langer Heinrich mine (“LHM”). As a result of the lower-than-expected production results for October and, noting the ongoing challenges and operational variability experienced to date in ramping up production at the LHM, Paladin has determined to revise its FY2025 production guidance to 3.0 – 3.6 Mlbs. U₃O₈ (previously 4.0 - 4.5 Mlbs. U₃O₈) and withdraw all other guidance in relation to FY2025. Paladin states that October production (186,667 lb.) was lower than planned primarily due to: 1) continued variability in the stockpiled ore processed, resulting in a lower than planned average feed grade for the month; and 2) disruptions to the supply of water from NamWater, which restricted the throughput volume of ore tonnes processed through the plant. The challenges experienced with throughput and grade variability during October were partially offset by an improvement in average recoveries for the month (approximately 87%).

For the period ending December 31, 2024, Paladin announced their best month of production to date at the Langer Heinrich mine in December, with 308,604 lb. U₃O₈ produced. On July 22, 2024, Paladin announced the production at Langer Heinrich mine ramped up with 517,597 lb. of U₃O₈ produced to June 30, 2024. The first customer shipment, containing 319,229 lb. of U₃O₈, departed Namibia on July 12, 2024.

In a news release dated April 2, 2024, Paladin announced commercial production at the Langer Heinrich Mine, with the first production and drumming of uranium concentrates on March 30, 2024. Paladin indicated that their focus would now shift to ramp-up of production and building product inventory ahead of shipments to customers.

In an announcement dated July 19, 2022, Paladin announced that its board of directors had made the decision to return the Langer Heinrich Mine to production, with first volumes targeted for the first quarter of calendar year 2024. Paladin further stated that total project capital expenditure had increased to US$118 million on a 100% project basis, (previous guidance of US$87 million), primarily driven by recent inflationary pressures across the project supply chain, brought forward power and water infrastructure works and increased owners team costs. 

In a release dated November 4, 2021, Paladin Energy Ltd. ("Paladin") announced an update to the Langer Heinrich Restart Plan. Paladin also disclosed an updated mineral resource and ore reserve estimates for the Langer Heinrich mine. Paladin disclosed that the update confirms a 17-year mine life supported by ore reserves of 84.8 million tonnes with an average U₃O₈ grade of 448 ppm. The life of mine production target increased to 77.4 million pounds of U₃O₈ (previously 76.1 million pounds). The estimated life of mine C1 costs have been updated to US$27.40/lb (previously US$26.90/lb), primarily due to increased estimated contract mining rates. The restart plan update included a JORC⁽¹⁾ compliant mineral resource estimate for the Langer Heinrich Mine with measured resources of 78.6 million pounds of U₃O₈ (79.1 million tonnes at an average grade of 0.045% U₃O₈) and indicated resources of 19.5 million pounds of U₃O₈ (23.5 million tonnes at an average grade of 0.0375% U₃O₈). It further reports additional measured resources in medium-grade stockpiles totalling 7.1 million pounds of U₃O₈ (6.3 million tonnes at an average grade of 0.051% U₃O₈) and low-grade stockpiles totaling 14.5 million pounds of U₃O₈ (20.2 million tonnes at an average grade of 0.0325% U₃O₈). A 200ppm U₃O₈ cut-off was applied to in-situ mineral resources – 250ppm U₃O₈ cut-off was applied to stockpiles at the time of mining. Mineral resources are reported on a 100% ownership basis, of which Paladin has a 75% interest. The measured and indicated U₃O₈ mineral resources are inclusive of those mineral resources modified to produce the ore reserves (as reported below). Such resource estimate was reported on a depleted basis to June 30, 2018. The restart plan update also stated updated ore reserves, with proved reserves of 52.0 million pounds of U₃O₈ (48.3 million tonnes at an average grade of 0.0488% U₃O₈) and probable reserves of 10.2 million pounds of U₃O₈ (10.0 million tonnes at an average grade of 0.0464% U₃O₈). Paladin further reports additional proved reserves in stockpiles totalling 21.6 million pounds of U₃O₈ (26.5 million tonnes at an average grade of 0.0369% U₃O₈). Ore reserves are reported on a dry basis. Proved ore reserves are inclusive of ore stockpiles. 250ppm cut-off applied. The updated ore reserve is estimated using a metal price assumption of US$50/lb U₃O₈. Tonnage figures have been rounded and may not add up to the totals quoted. Ore reserves reported on a 100% ownership basis, of which Paladin has a 75% interest.

⁽¹⁾  Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, The JORC Code 2012 Edition, Effective 20 December 2012, mandatory from 1 December 2013. Prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia .(JORC).

The information below regarding project milestones and recent developments for the Langer Heinrich Mine has been summarized from Paladin's public disclosure and from other publicly available materials.

The Langer Heinrich Mine deposit was discovered by General Mining Union Corporation Limited ("Gencor") in 1973. Between the late 1970s and 1980, Gencor completed substantial technical work, including a full project-evaluation study, metallurgical studies, multiple exploratory shafts and construction of a 300,000 tonne per year dry screen plant and pilot plant at the Langer Heinrich Mine.  In 1998, the Langer Heinrich Mine was acquired by Acclaim Uranium, which completed additional drilling and a pre-feasibility study between 1999 and 2002.  In August 2002, Paladin acquired Langer Heinrich Uranium (Pty) Ltd. from Aztec Resources Ltd (formerly Acclaim Uranium NL).

Paladin filed a resource estimation in April of 2005, and in July of 2005, announced that the Ministry of Mines and Energy in Namibia approved the grant of a mining licence covering the Langer Heinrich deposit for a 25-year term. Initial construction at the Langer Heinrich project started in September 2005, leading to the mine's official opening in March of 2007.

The Langer Heinrich Mine had its first full year of production in Paladin's fiscal year ended June 30, 2009. Since then, Paladin has completed two expansion projects, the first being the Stage 2 expansion in fiscal 2010 and the second being the Stage 3 expansion that took place in fiscal 2012.

In July of 2014, Paladin announced the completion of the sale of a 25% stake in the Langer Heinrich mining operations to CNNC Overseas Uranium Holding Limited. In May of 2018, Paladin announced that it has received the consent of relevant stakeholders to place the Langer Heinrich Mine on care and maintenance and that it had stopped presenting ore to the plant.

In its annual report for the year ended June 30, 2019, Paladin announced that in February 2019 it had completed a concept study that identified multiple options to reduce operating costs, improve process plant performance and potentially recover a saleable vanadium product. The annual report also disclosed that Paladin had commenced a two-stage pre-feasibility study respecting a potential re-start of mining operations at the Langer Heinrich Mine upon a sustained recovery in uranium prices.