Name of the Project
Patterson Lake South (PLS) uranium project.

Location
Canada’s Athabasca basin region.

Project Owner/s
Uranium miner Paladin Energy acquired Fission Uranium Corp in December 2024. Fission’s  activities will slowly transition to be conducted under the operating name of Paladin Canada.

Project Description
The advanced, development-stage project hosts the Triple R deposit – one of the region’s largest high-grade, near-surface uranium deposits.

A feasibility study has confirmed the Tier 1 PLS project as one of the most economically significant and elite uranium development projects in the world, with a minimal environmental footprint.

The project has a mine life of ten years, with total production of 9.1-million pounds of uranium over the life-of-mine (LoM).

The feasibility study proposes a processing plant with a nominal throughput of 1 000 t/d.

A conventional grinding and leaching circuit will be used for the recovery process.

As part of the integration process between Paladin and Fission, Paladin intends to conduct a full review of the PLS feasibility study, including Fission’s previously estimated capital and operating costs, to identify areas for further optimisation and derisking the development of the project.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of C$1.204-billion and an internal rate of return of 27.2%, with a payback of 2.6 years.

Capital Expenditure
The project has an estimated capital cost of C$1.16-billion.

Planned Start/End Date
Paladin is targeting first uranium production from the PLS project by 2031

Latest Developments
Paladin Energy has been served with a judicial review application that challenges the environmental approval of its PLS project.

The application, filed in the Saskatchewan Court of King’s Bench by the Métis Nation–Saskatchewan (MN-S), seeks to overturn the provincial government’s February 19 decision to approve the environmental-impact statement (EIS).

The MN-S argues that the government of Saskatchewan failed to adequately consult with the organisation before granting approval. The application names the government and Paladin as respondents.

The MN-S has also applied for an interim injunction to prevent Paladin from progressing any activities based on the EIS decision until the court has ruled on the matter.

Paladin has said it has engaged with MN-S over many years through its Canadian subsidiary, Paladin Canada, formerly Fission Uranium, and made “significant efforts” to address environmental and community concerns raised by the MN-S in these consultations.

The company acknowledged the rights and interests of Indigenous communities and reiterated its commitment to ongoing engagement and the development of partnerships that deliver socioeconomic benefits.

However, Paladin has rejected the claims made in the application and has confirmed that it will defend its position. 

Key Contracts, Suppliers and Consultants
Tetra Tech (feasibility study); SLR Consulting (resource estimation), Mining Plus Canada Consulting (mineral reserve estimation, mining design, mining infrastructure, mining capital and operating costs); Clifton Engineering Group (environment, permitting, socioeconomics and tailings); and BGC Engineering (geotechnical and hydrogeological aspects).

Contact Details for Project Information
Paladin Energy, tel  +61 8 94238100 or email paladin@paladinenergy.com.au.