Bannerman eyes expansion options for Namibia uranium project
As uranium developer Bannerman Resources progresses with its plans for an initial eight-million-tonne-a-year Etango project, in Namibia, it is casting its gaze towards a broader horizon. The company has started to delve into potential expansion options, aiming for a larger-scale operation in the future.
The ASX-listed junior recently completed a scoping study that looks at the long-term optionality afforded by the large-scale Etango resource. Executive chairperson Brandon Munro highlighted the study’s findings, emphasising a “clear pathway” towards achieving a production capacity of 6.7-million pounds a year.
The study evaluated two future phase options: a post-ramp-up expansion in throughput capacity to 16-million tonnes a year (Etango-XP) and an extension of operating life to 27 years (Etango-XT).
For the Etango-XP option, projections indicate a life-of-mine (LoM) uranium octoxide (U3O8) throughput of 95.2-million pounds over 16 years, with yearly output of 6.7-million pounds of U3O8. This expansion entails an estimated investment of $325-million.
Alternatively, the Etango-XT life extension option maintains the current mine and plant throughput of eight-million tonnes a year, but extends the mine life from 15 years to 27 years. This option yields LoM U3O8 output of 95.2-million pounds, with yearly output at 3.5-million pounds.
The scoping study’s aims is to underscore the technical and economic viability of these expansion and life extension options, post successful construction and ramp-up of the base case Etango-8 project.
Munro reported that Bannerman continued to advance project workstreams for the Etango-8 project. Front-end engineering design is progressing to schedule and is expected to be completed in the second quarter.
Simultaneously, Bannerman is also actively pursuing financing activities for the $320-million project.
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