Paladin powers up on cost cuts

The embattled uranium production company cut executive pay and capital expenditure in the face of the weakening uranium price.

Paladin Energy (PDN) shares have jumped after the uranium production company slashed costs across the business in the face of the weakening uranium price.

The stock surged 9.4% to 52.5 cents at 1321 AEST – its biggest lift in nine months – after Paladin cut an unknown number of jobs in its head office, executive pay by 10% and cash costs by $23 million.

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