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Namibia’s position as a global uranium powerhouse is poised to strengthen significantly with the advancement of Bannerman Energy’s Etango project, slated to commence production in 2028. This ambitious venture will solidify Namibia’s status as a leading uranium producer, joining established operations at Rossing, Husab, and the recently revived Langer Heinrich mines.
Bannerman Energy CEO Gavin Chamberlain anticipates Etango’s addition will further elevate Namibia’s ranking, building on its current position as the world’s third-largest uranium producer. The mine is projected to yield approximately 3.5 million pounds of uranium annually, employing an opencast mining method combined with a pioneering heap leach processing technique, distinguishing it from Namibia’s traditional tank leaching operations.
“The fact that we will be the fourth uranium mine in Namibia is a big achievement and keeps Namibia right at the top of the global uranium industry,” Chamberlain stated.
The project has achieved significant milestones, including the granting of a mining license in December 2023, a critical step towards securing major funding. Bannerman has also completed an A$85 million fundraising round, enabling the company to progress with early works and infrastructure development, including access roads, bulk earthworks, and power supply.
Construction is progressing steadily, with bulk earthworks expected to be completed by 2026. Bannerman is targeting uranium production by 2028, with commissioning scheduled for 2027. To ensure the project remains on track, a structured stage gate process with quarterly board updates has been implemented.
Addressing the critical issue of water availability, Bannerman has constructed a dedicated water supply pipeline and a 9,000 m³ onsite reservoir. “Namibia’s desalination plant experienced a planned shutdown in November, but we were able to continue work without any delays because of our onsite water storage. Similarly, a recent sulphur bloom led to another shutdown, but again, we had sufficient reserves to continue operations,” Chamberlain explained.
A strong emphasis has been placed on localization, with all five major construction contracts awarded to Namibian firms. “The integration of Namibian contractors into our project has been a major success. Not only does it strengthen the local economy by keeping funds within Namibia, but it also simplifies logistics and supervision,” Chamberlain noted.
The project is expected to create significant employment opportunities, with peak workforce numbers reaching approximately 1,500 workers.
Bannerman is also actively pursuing financing and uranium offtake agreements, exploring both traditional debt financing and potential strategic partnerships.
While the article focuses on the business and engineering aspects of the mine, it is important to note that any large mining operation has an impact on the health of the surrounding communities. When asked for comment on the health impacts of Uranium mining, a representative from the Namibian Ministry of Health Department stated “The Ministry is committed to ensuring the health and safety of communities surrounding mining operations. We are working closely with Bannerman Energy to monitor environmental factors and implement mitigation measures. We are also ensuring that health services are available to those who may be impacted by mining activities.”
