Deep Yellow Limited has appointed Nedbank Limited to coordinate and arrange the financing of the Tumas Project in Namibia.
Nedbank Limited will act through its Nedbank Corporate and Investment Banking Division.
The proposed project financing is expected to deliver a competitively priced funding cost for project development.
Nedbank has an extensive track record in financing mining projects across Africa, including uranium, and previously worked with the current Deep Yellow management team to lead project financing for a uranium project in Namibia and a second African project.
Deep Yellow CEO John Borshoff said the project finance process will parallel the detailed engineering currently underway.
Borshoff also said they aim to announce the final investment decision in Q4 CY2024 ahead of the scheduled production start-up during Q3 CY2026.
“Over the past seven years, Deep Yellow has focused on building a company uniquely positioned in the uranium sector with two substantial greenfield projects and becoming a producer with multiple mines during this decade,” Borshoff said.
He added that Nedbank’s extensive African experience and strong track record in financing uranium projects, combined with Deep Yellow’s economically and technically robust project, make them a perfect match.
