Bannerman Energy CEO discusses progress at Etango uranium project and market dynamics
16.04.2024 | NewsDirect
Bannerman Energy Ltd. CEO Gavin Chamberlain takes Proactive's Stephen Gunnion through progress at the company's flagship Etango uranium project in Namibia.The Etango project, highlighted in a December 2022 definitive feasibility study (DFS), aims to exploit a significant uranium resource, initially targeting 60 million tonnes out of an identified 220 million in the 8 Mtpa Etango development (Etango-8).
Chamberlain also outlined recent developments, including the completion of Etango-XP and Etango-XT scoping study to assess the potential expansion of the Etango project. The expansion could potentially double the project's capacity to 16 Mpta in response to favourable uranium market conditions.
Furthermore, Bannerman Energy is in the funding phase, having secured essential permits and initiated key construction contracts.
The CEO anticipates that strategic financing initiatives and utility contracts will support the project's progression. He remains optimistic about the uranium market, predicting continued price increases due to a tightening supply-demand balance.
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