Bannerman Energy has identified three exploration prospects around its Etango uranium project in Namibia as it considers opportunities to expand future production and extend the mine’s operating life beyond its initial development plan.
The company has identified Hyena and Onjamba as potential satellite deposits requiring further exploration, while Ompo has been identified as a new exploration target. The company is also considering additional exploration at depth at Etango itself.
Bannerman outlined the prospects in its November 2026 investor presentation, released on 11 November, as the company moves ahead with full-scale construction of the Etango uranium mine, approximately 30 kilometres south-east of Swakopmund.
Bannerman said regional exploration could unlock additional uranium resources and discoveries capable of supporting future mine expansion and extending the project’s operating life.
The company intends to build on its existing mineral resources, satellite prospects and extensive geological, drilling and metallurgical datasets to identify further development opportunities.
Its exploration strategy forms part of a broader growth programme that includes increasing production capacity at Etango and assessing other opportunities in Namibia’s uranium sector.
Expansion potential
The Etango project is being developed initially as an operation capable of processing eight million tonnes of ore annually and producing an average of 3.5 million pounds of uranium oxide a year.
The initial development has a projected mine life of 15 years, with total uranium production estimated at 52.6 million pounds.
Bannerman is also considering a subsequent expansion that would double processing capacity to 16 million tonnes annually.
Under the Etango-16 expansion scenario, annual uranium production could increase to an average of 6.7 million pounds following completion of the expansion.
The expansion study envisages total uranium production of 95.2 million pounds over a 16-year mine life, compared with 52.6 million pounds under the initial development plan.
Bannerman said the expansion would allow the project to take advantage of favourable uranium market conditions while making greater use of infrastructure developed for the initial operation.
The company has also previously examined an extended-life development scenario that could support mining operations over approximately 27 years.
These expansion and extended-life scenarios remain potential future developments rather than approved additions to the mine currently under construction.
Construction progresses
Bannerman’s exploration plans come as construction of the initial Etango operation progresses towards first uranium production in 2028.
The company reported that approximately 14,700 cubic metres of concrete had been poured, representing about 86% of requirements under the first two construction phases.
Bulk earthworks were approximately 99% complete, while the first phase of the permanent water supply pipeline was about 90% complete.
The project had approximately 523 contractor personnel on site at the time of the presentation.
Bannerman estimates pre-production capital expenditure at US$353 million and says the project is fully funded through construction, ramp-up and into commercial production.
Etango has a reported mineral resource of approximately 207 million pounds of uranium oxide at a cut-off grade of 100 parts per million.
The company has not disclosed new drilling results, resource estimates or exploration budgets for Hyena, Onjamba or Ompo in its November presentation.
The three prospects and deeper exploration opportunities at Etango therefore represent potential sources of future growth, with their contribution to any mine expansion dependent on further exploration and technical assessment.
