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Paladin secures uranium sales deals

Johannesburg - Metals miner Paladin Energy signed agreements with three new customers in the United States to sell uranium output from its Langer Heinrich mine in Namibia.

Sales commitments from the deals total over 2.8 million pounds of U308, helping Paladin strengthen its presence in the US nuclear market.

The company expects to begin deliveries from 2012, extending through 2016, it said in a statement.

The Langer Heinrich Stage 3 expansion project is almost complete and is set to increase annual production to 5.2 million pounds from 3.7 million pounds of U308, the company said.

The Perth, Western Australia-based company's shares closed at C$1.98 on Friday on the Toronto Stock Exchange.

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Rand - Dollar
18.98
-0.4%
Rand - Pound
23.99
-0.4%
Rand - Euro
20.52
-0.3%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.4%
Platinum
900.15
+0.4%
Palladium
1,000.00
-0.2%
Gold
2,213.05
+0.8%
Silver
24.68
+0.2%
Brent Crude
86.09
-0.2%
Top 40
68,324
+1.0%
All Share
74,499
+0.8%
Resource 10
57,210
+2.8%
Industrial 25
103,820
+0.5%
Financial 15
16,514
-0.1%
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