Paladin mine closure triggers rally by Boss Energy and Deep Yellow
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More news: Uranium miners Boss Energy and Deep Yellow were the two top performing ASX 200 stocks at 1pm AEDT, after rival Paladin Energy suspended operations at its Langer Heinrich mine due to heavy rain.
Boss Energy was up 8.9% to $2.94, and Deep Yellow was 5.9% higher at $1.17.
Paladin was one of the worst performing ASX 200 companies, dropping 3.2% to $6.61 cents per share.
Paladin Energy shares drop on Namibian mine closure
More news: Paladin Energy shares fell at market open after the uranium miner flagged that operations at its 75% owned Langer Heinrich mine in Namibia have been suspended due to heavy rain.
Paladin shares were down 5.6% to $6.45 at 10:30am AEDT, having shed more than 50% over the last 12 months.
Paladin suspends Langer Heinrich mine operations after heavy rain
The news: Uranium miner Paladin Energy has warned that all operations at its Langer Heinrich mine have been temporarily suspended following unseasonal heavy rains in Namibia.
The context: Paladin said that access to the mine has been impacted and disruption to production will be assessed when conditions have stabilised.
The miner's 75% owned Langer Heinrich project is still midway through a planned 21-month ramp-up period. The latest suspension comes after Paladin cut its full-year production guidance and withdrew all other guidance due to a series of challenges at the mine.
The source: ASX
