Bannerman receives mining licence

Bannerman Energy Ltd has received the mining licence for its flagship Etango Uranium Project.

“Our team in Namibia were very excited to receive the mining licence for the Etango uranium project. The project is now fully permitted and shovel ready as 2024 begins,” the company said this week.

This comes on the heels of the news that France has announced plans to build an additional eight nuclear reactors on top of six already planned. It was also announced recently that the United Kingdom had made a landmark £300 million investment to become first nation in Europe to produce enriched uranium fuel for advanced as part of plans to displace Russia and help deliver another 24GW of clean, reliable nuclear power to the UK by 2050.

Bannerman believes that with the mining licence for the Etango project in hand, it is looking forward to an exciting 2024. The mining licence has come at a time when the company has awarded initial contracts for the Etango early works programme.

The grant of the licence has allowed Bannerman to move immediately to award two key early works contracts on Etango for the build of the temporary construction water supply and the site access road. The temporary construction water pipeline will ensure sufficient water is available onsite when the main earthworks and civil contracts commence. The access road will enable controlled access to the mine site with minimal impact on the surrounding area to be achieved from the start of full construction works.

These contracts hold a combined value of approximately N$36 million. They have been awarded to a local Namibian contractor and follow a tender process undertaken earlier this year. The prompt award and commencement of these early works contracts enables Bannerman to ensure the current target construction schedule for Etango is maintained.

Bannerman first invested in the Etango project in 2006 and has said the overall construction schedule remains on track, with this final project permit now complete and the front end engineering and design work meeting its most optimistic expectations. The company believes that Namibia is an ideal place to build and operate a uranium mine.

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