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Strong progress at Etango Uranium Project has been reported including the execution of a transformational strategic project funding solution during the first quarter, according to the developer, Bannerman Energy.
Gavin Chamberlain, Bannerman Managing Director and Chief Executive Officer said the miner continued to progress Etango’s early works programme during the March 2026 quarter, with key construction activities, detailed design and procurement advancing in line with schedule and budget.
“This progress reflects disciplined execution across multiple workstreams as the project advances toward full-scale construction readiness,” said Chamberlain.
He said a transformational milestone during the quarter was the announced project funding solution through a strategic partnership with CNNC Overseas Limited (CNOL).
“This transaction provides a clear, debt-free pathway to development and an expected Final Investment Decision later this year.
“Put simply, it is the final piece that unlocks the development and operation of the Etango Project,” said Chamberlain.
He said the uranium market fundamentals continued to strengthen over the period. While spot pricing remained volatile, long-term price indicators improved, and global policy support is increasingly translating into reactor life extensions, restarts and new build commitments, reinforcing utility focus on long-term supply security.
