Uranium producer Paladin Energy says it will require a sizeable rise in the price of uranium to $85 per pound to profitably develop its mines after it recorded a widened net loss of $US172 million for the year to June 30.

The uranium price is currently sitting at a two-year low of $US48 a pound, forcing many developers to shelve projects until the market recovers. Canadian producer Cameco has paused its Kintyre project in Western Australia while another explorer, Bannerman Resources , says a price of $US75 to $US90 is needed for developments to get the green light. Paladin chief executive John Borshoff said the Perth-based company was happy to bide its time and wait for the price to recover.