Bannerman Mining Resources managing director Werner Ewald says the company is trying to secure funding from investors for the Etango project construction.
Ewald said Bannerman Resources has already started the N$7 billion (US$350 million) construction at the project in Namibia.
According to Ewald, the company is also negotiating supply contracts with offtakers.
He said the construction will take about 30 months, and mining activities could start in 2027.
“To start construction, you need water and power to get to the site. And at the mine site, no road leads to the processing plant,” Ewald said.
Bannerman Resources awarded two contracts to a local company to construct a pipeline and an access road to the Etango project.
“So, if we start in the middle of this year, then by the beginning of 2027, we will start commissioning the plant and the mine,” Ewald said.
He said Bannerman Resources got the licence on 14 December 2023, and starting the funding process was challenging without it.
The Etango Project possesses a world-class uranium Mineral Resource endowment of 207 Mlbs of contained U3O8 (100ppm U308 cut-off).
Ewald also announced that Twapewa Kadhikwa was the new Bannerman Resources Namibia chairperson.
