Bannerman Mining Resources Namibia, led by Managing Director Werner Ewald, is developing an initial processing plant capable of handling eight million tonnes of ore annually at its Etango-8 uranium project.
The facility’s infrastructure is being built to accommodate future expansion to Etango-20, which would double the capacity to 20 million tonnes per year.
Construction is expected to be completed by the end of 2027, with first uranium production scheduled for 2028.
Ewald outlined these developments during a presentation at the 2025 Mining Expo, describing Etango-8 as a transformative project for Namibia’s uranium sector.
He emphasised that all funding to date has come from international investors who have confidence in both Namibia and Bannerman, and underscored the need for close cooperation with government, NamWater, NamPower, NamPort, contractors, communities, and the tourism sector to deliver the mine on schedule.
Located 30 kilometres southeast of Swakopmund in the Erongo Region, Etango contains a uranium resource of about 207 million pounds U₃O₈ at a 100 parts-per-million cut-off.
Bannerman has invested over 15 years and more than N$1 billion in exploration, feasibility studies, and pilot heap-leach trials.
A Definitive Feasibility Study completed in 2022 confirmed Etango-8 as an economically robust open-pit mine with heap-leach processing, delivering an 87.8 per cent processing yield and a total production of 52.6 million pounds U₃O₈ over an initial 15-year mine life.
The study projected an average annual output of 3.5 million pounds, a post-tax internal rate of return of 21.1%, a net present value of US$390 million, and all-in sustaining costs of US$39 per pound.
Significant early works have been completed.
A 14-kilometre power line has been connected to Erongo RED for construction power, while a 25-kilometre water pipeline from Rössing, complete with an on-site reservoir, is in place.
Bulk earthworks have been undertaken for the primary crusher, as well as secondary and tertiary crushing facilities.
The heap-leach pad—measuring one kilometre in length and 300 metres in width—is taking shape alongside pregnant, barren, and intermediate solution ponds.
Over N$400 million has been spent on electricity, water, and earthworks, with major contracts awarded to Namibian companies including Volta’s Electrical of Swakopmund and Namaplant of Windhoek.
Another N$200 million in civil works and drainage contracts will be awarded in the coming weeks.
The company has already taken delivery of its High-Pressure Grinding Rolls tertiary crusher and completed a 10-day capacity water storage dam.
All environmental and mining licences have been secured.
Employment is projected to grow from approximately 200 contractors in 2024 to around 1,000 during peak construction, before stabilising at 760 once the mine is operational.
Currently, 57 per cent of Bannerman’s core team is female.
The company prioritises Namibian suppliers wherever possible, with significant civil works and heap-leach pad contracts earmarked for local firms.
Although uranium production has not yet commenced, Bannerman has run a corporate social responsibility programme for the past 15 years, focusing on education and tourism.
Initiatives include a partnership with Mondesa Youth Opportunities, collaboration with the Ministry of Education to provide uniforms and support to schools in nine regions, and partnerships with the Namibia Chamber of Environment, TOSCO, the Hospitality Association, and Save the Rhino.
Operating within a national park, Bannerman has also worked closely with the tourism sector to ensure mining and tourism coexist, inviting stakeholders to participate in planning and site visits.
Namibia is the world’s third-largest uranium producer, and Etango-8 is expected to strengthen further the country’s role in global nuclear fuel supply. With uranium prices rebounding to pre-Fukushima levels, the project is positioned to benefit from favourable market conditions.
