today | Erongo’s fourth uranium mine gets the nod - Page 4

Australian company Bannerman Energy, which has been operating in the Erongo Region since 2006, recently received a mining licence for its Etango uranium project from the mines ministry.This will be the fourth uranium mine in Namibia, along with Rössing Uranium, the Husab Mine and Langer Heinrich Uranium (LHU). Trekkopje is currently closed.All these mines are located in Erongo and within nature conservation parks.LHU was inactive several years ago, but will be reactivated and is expected to be operational again by April 2024."We are pleased to announce that we have received the mining licence and the first contracts for the first phase of the Etango project have been awarded," the company confirmed.The award of the licence enables Bannerman to immediately award two key contracts for the construction of a temporary water supply as well as an access road to the site.“The road will provide controlled access to the site with minimal impact from the start of construction on the surrounding area. The agreements have a total value of approximately N$36 million and have been awarded to Namibian companies," Bannerman said.Unwavering focusThe tender process was completed at the beginning of the year, with Bannerman thus ensuring that the current construction schedule for the mine is adhered to.Brandon Munro, who is at the helm of Bannerman, said this represents the culmination of "our unwavering focus on Etango since our first investment in 2006. This while staying true to our belief in the critical role of nuclear energy for a better world".With the mining permit, important workflows can now be carried out towards a final investment decision. International uranium prices have risen recently, which is beneficial for the new mine. Bannerman applied for the licence in August 2022.The price of uranium has been around N$557 (at yesterday’s exchange rate) per pound for years since the Fukushima disaster in 2011 and rose to N$835 this year. It climbed even higher since August and stood at N$1 597 earlier this week.

today | Erongo’s fourth uranium mine gets the nod - Page 4

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Namibian Sun 2025-04-08

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today | Erongo’s fourth uranium mine gets the nod - Page 4

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Namibian Sun 2025-04-08

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