Highlights

  • Paladin Energy reported record quarterly uranium production from its Langer Heinrich Mine.
  • Whitehaven Coal increased recoverable reserves at Blackwater Mine following updated estimates.
  • Gains in select stocks contrasted with a decline in the ASX 200 Energy index.

The S&P/ASX 200 Energy index closed 2025 with a decline of 2.25%, reflecting mixed outcomes across oil, gas and coal stocks. The index, which includes companies involved in exploration, production and energy-related services, recorded varied price movements throughout the year. While the broader sector finished lower on a year-to-date basis, some individual energy stocks reported higher share price movements over medium-term periods.

Name

Ticker

CMP in AUD (as on 31 Dec 2025)

6-Month Change

9-Month Change

YTD-Month Change

Paladin Energy

(ASX:PDN)

9.59

21.86%

105.79%

26.85%

Whitehaven Coal

(ASX:WHC)

7.75

38.15%

47.34%

25.00%


Paladin Energy Reports Q1 FY2026 Production Data
Paladin Energy (ASX:PDN) reported record uranium production of 1,066,496 lb U₃O₈ from its Langer Heinrich Mine in Namibia for the quarter ended 30 September 2025. The reported output followed continued ramp-up activity after the mine resumed operations earlier in 2024. Total material mined during the quarter increased 63% compared with the previous quarter.

Processing throughput remained steady at 1.15 Mt, with an average feed grade of 477 ppm U₃O₈ and an overall recovery rate of 86%. Uranium sales during the period totalled 533,789 lb at an average realised price of USD 67.4 per lb. Paladin reported cash and investments of USD 269.4M at the end of the quarter, following completion of an AUD 300M equity raising.

Whitehaven Coal Updates Blackwater Resources and Reserves
Whitehaven Coal (ASX:WHC) released an updated Resources and Reserves statement for the Blackwater Mine in Queensland, reflecting changes to geological data, modelling and mine planning assumptions. Recoverable coal reserves were revised to 365 Mt, compared with 191 Mt previously, while total coal resources increased to 1,919 Mt from 1,817 Mt.

The update incorporated additional drilling information, refined geological interpretation and revised economic assumptions, along with the inclusion of new prospective mining areas. Marketable coal reserves rose to 298 Mt, supported by the increase in recoverable reserves. The estimates relate to open-cut mining operations and are inclusive of metallurgical coal as the primary product, with a smaller thermal coal component.