Deep Yellow initiates financing process for Namibia uranium project
Uranium project developer Deep Yellow has appointed Nedbank as the mandated lead arranger and bookrunner to coordinate and arrange project financing for its flagship Tumas project, in Namibia.
The ASX-listed mining company says Nedbank has an extensive track record in financing mining projects across Africa. The current Deep Yellow management team previously worked with Nedbank in project financings for a uranium project in Namibia and a second African project.
“Their [Nedbank’s] extensive experience in Africa with a strong track record in financing uranium projects combined with our economically and technically robust project is a perfect match,” comments MD and CEO John Borshoff.
The proposed project financing is expected to deliver a competitively priced cost of funding for project development. Key to this process, says Deep Yellow, will be working with Nedbank to implement the optimal level of offtake commitments required to access debt funding, while ensuring maximum upside uranium price exposure.
Borshoff says the project finance process will run in parallel to the detailed engineering currently under way, with a final investment decision targeted before the end of the year.
“ It is pleasing that our schedule is holding for production start-up during third quarter of the 2026 calendar year,” he notes.
Tumas is envisaged as an operation treating 4.15-million tonnes a year to produce up to 3.6-million pounds of uranium and 1.15-million pounds of vanadium by-product a year over a projected mine life of 22.25 years.
A December 2023 feasibility study review has validated a lower initial capital cost of $360-million, down 64% from the initial estimates in the DFS.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
