Bannerman Energy has invested over N$428.2 million in local procurement, construction contracts, and service providers as it advances the development of its Etango uranium project in Namibia's Erongo region. The project is nearing a planned construction milestone later this year. According to the company's 2026 Sustainability Report, significant progress has been made on site preparations.
The Etango project has seen substantial progress in recent months. Bulk earthworks, including heap leach pads and wet plant terraces, are approximately 99% complete and expected to be finished by December 2026. The first two concrete construction packages are about 86% complete. Construction is also underway on structural facilities for the primary crusher and fine ore silo.
Over 560 personnel are currently working on the Etango project site through four Namibian contracting companies. The workforce has achieved a significant safety milestone, accumulating over 1.1 million hours without a lost-time injury. The N$428.2 million spent locally covers various project-related activities, including civil works, engineering, aggregate crushing, and electrical infrastructure.
The Etango project will rely on desalinated seawater supplied by NamWater for its operational water requirements. This arrangement aims to avoid competition with local municipal water supplies. Construction of the permanent water pipeline began in 2026 and is reported to be 90% complete. A temporary pipeline has been completed to supply the project's initial water requirements.
The project site also features a concrete storage reservoir with a capacity equivalent to 10 days of operational water demand. This water infrastructure is part of the preparations for the project's eventual operations. However, the supplied project update does not provide a revised date for the start of production.
Bannerman has renewed its partnership with Mondesa Youth Opportunities (MYO) for a further three years. The programme supports learners from under-resourced backgrounds in the Swakopmund area through educational support, leadership development, life skills training, and daily meals. This partnership reflects the company's commitment to social responsibility and community development.
The Etango project's definitive feasibility study provides for an initial mine life of 15 years and annual production of 3.5 million pounds of uranium oxide. As one of Namibia's proposed uranium developments, the project is expected to contribute to the country's growing uranium sector, which continues to attract investment.
Key points
- Bannerman Energy has spent over N$428.2 million on local procurement and contracts for the Etango uranium project.
- The project is nearing a planned construction milestone, with bulk earthworks 99% complete and expected to finish by December 2026.
- The Etango project will rely on desalinated seawater supplied by NamWater, with the permanent water pipeline 90% complete.
