The results of a scoping study of the Etango uranium project in Namibia, which highlighted the strong technical and financial feasibility of two project scenarios, were published by Australian company Bannerman Energy on March 18, the Namibian Sun newspaper reported.
The Etango-XP scenario involves increasing productivity to 16 million tonnes per year, and the Etango-XT scenario involves extending the mine life from 15 to 27 years.
Bannerman Energy was awarded a mining license for its flagship Etango project in December 2023 and awarded initial contracts for the project’s preliminary works program at that time.
Under the Etango-XP scenario, with production increasing to 16 million tons of ore per year starting in year 5 of production, the project could produce significant quantities of uranium in 16 years, during which it would produce 95.2 million pounds of uranium oxide. (43,182 tons). Capital costs for the expansion phase of Etango-XP are estimated at $325 million (30 billion rubles).
The Etango-XT scenario, which maintains production at 8 million tons per year, assumes that total uranium oxide production will remain the same at 95.2 million pounds, but over 27 years, without requiring additional capital expenditures.
Bannerman chief executive Gavin Chamberlain said developing the “world-class” Etango project, with an initial capacity of 8 million tonnes per year, is the company’s main focus now.
The scoping study was carried out to demonstrate the technical and financial feasibility of expanding the Bannerman Etango baseline project following its successful construction and commissioning.
The estimated cost of developing Etango is about 320 million dollars (29.5 billion rubles).
Source: Rossa Primavera
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