Paladin managing Director John Borshoff had his pay packet halved to $2.5 million in the 2012/13 financial year after the uranium miner doubled its full year loss.

Mr Borshoff's pay, including bonuses, was down from $5.2 million in the previous year, Paladin's annual report shows.

Paladin Energy recently said it plans to boost production and push ahead with the partial sale of its Langer Heinrich mine in Namibia, after its annual loss doubled to $US420.9 million.

The company managed to achieve its 2012/13 production targets but it continues to slash costs due to weak global uranium prices.

Managing Director John Borshoff said forecast cost reductions for the 2012/13 year were exceeded at both mine sites, Langer Heinrich and Kayelekera mines.

"Further gains are expected for fiscal 2014," Mr Borshoff said.

A minority interest sale in Langer Heinrich offered the only opportunity in the world for a party to acquire a valuable equity-level participation in an operating uranium mining project, he said.

It was almost impossible for the mining industry to meet the projected demand over at least the next decade and a half, he said.

Chairman Rick Crabb said the Paladin board remained committed to asset sales.

"The company has moved to reduce costs throughout the organisation such as significantly deferring exploration and, unfortunately, making redundant a number of our staff," he said.

 

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