Bannerman Energy’s Etango uranium project construction on budget and schedule

Bannerman Energy Ltd announced on September 30, 2025, that early construction works for its Etango Uranium Project are progressing on budget and schedule. Key milestones include the commissioning of construction power within the Mining Licence boundary and the successful completion of the Factory Acceptance Test for the High-Pressure Grinding Rolls (HPGR) tertiary crusher in Germany. Detailed design for the Etango process plant is also on track, with dry plant engineering approximately 86% complete.

Further progress includes the placement of contracts for Phase 1 concrete and for blasting and crushing heap leach drainage material, both awarded to Namibian contractors now establishing on site. The bulk earthworks contract, awarded in August 2024, is 42% complete, with heap leach pad construction advancing and process solution pond excavation commenced. The Etango site access road, including the C28 intersection upgrade, is now complete.

Detailed engineering of the wet plant is approximately 22% complete, with mechanical procurement packages released to market. Long-term supply contracts for water and power with Namibian utilities are progressing, and a site lease agreement for the acid storage and handling facility at Walvis Bay port has been agreed.