Chamwe Kaira
Deep Yellow Limited is advancing a dual-pillar growth strategy aimed at building a globally diversified uranium producer with annual output of more than 10 million pounds.
The company’s portfolio includes two advanced projects in Tier-1 mining jurisdictions.
These are the Tumas Project in Namibia and the Mulga Rock Project in Western Australia.
Future growth is supported by a wider exploration portfolio. This includes the Alligator River Project in Australia’s Northern Territory and the Omahola Project in Namibia.
Deep Yellow said it continues to assess opportunities to acquire additional assets that fit its strategy.
The company said it is pursuing growth at a time when nuclear energy is gaining acceptance as a key source of baseload power and as part of global decarbonisation efforts.
Rising demand for reliable, round-the-clock energy from sectors such as data centres has also supported this shift.
Deep Yellow said it aims to position itself as a long-term uranium producer, offering supply security, production flexibility, and geographic diversity.
In Namibia, the company’s portfolio includes the fully owned Tumas and Omahola projects, the Nova Joint Venture in which it holds a 65% interest, and the Yellow Dune Joint Venture where it owns 85%.
During the reporting period, exploration focused on infill drilling at the Tumas 3 ore body to improve resource confidence. No exploration work took place at Omahola, the Nova joint venture, or the Yellow Dune projects during the period.
The Omahola Project lies within the Alaskite Alley corridor, an area known for major uranium deposits.
The Tumas Project is located about 75 kilometres from Swakopmund in the Namib-Naukluft National Park. It operates under mining licence 237, which runs until September 2043.
Exploration and development work since 2017 has expanded the project, resulting in an estimated mine life of more than 30 years and ore reserves of 79.5 million pounds of uranium.
After the recosting of the Definitive Feasibility Study in December 2023, detailed engineering work began in the first half of the 2025 financial year.
The work aims to finalise project scope, costs, and construction timelines ahead of the final investment decision.
“While optimisation work met investment criteria, Deep Yellow announced in April 2025 that it would delay the FID, citing insufficient uranium prices to justify immediate greenfield development. Early site preparation works have nevertheless commenced, and debt financing discussions with Nedbank Limited are progressing,” the company said.
Environmental approvals for the Tumas Project, including water pipelines and powerline infrastructure, were granted in 2023. Changes to the powerline design required an updated environmental impact assessment and environmental management plan, which were submitted to the Ministry of Environment, Forestry, and Tourism in June 2025.
Environmental clearance certificates are required for mining and exploration activities in Namibia.
During the period, several exploration licences underwent environmental review.
An environmental clearance renewal for the Shiyela Iron Project was approved, while renewal applications for other exploration licences were still pending at the end of the period.
Caption
Deep Yellow is positioning itself as a long-term uranium producer with diversified operations.
- Photo: Contributed
