Bannerman Energy spent more than N$428.2 million on local procurement and contractor services during the 2026 financial year as it advanced early construction activities at its Etango uranium project in the Erongo Region.
According to the company’s 2026 Sustainability Report for the year ended 30 June 2026, the expenditure covered civil works, engineering, aggregate crushing and electrical infrastructure.
“During FY2026, over N$428.2 million was directed to local procurement and contractor services for early works and construction activities, including civil works, engineering, aggregate crushing, and electrical infrastructure,” Bannerman said.
The company reported that 99.4% of its contractor and subcontractor workforce was Namibian at the end of June 2026.
A total of 477 contractors and subcontractors were engaged on the project, while Namibians accounted for about 90% of Bannerman Mining Resources Namibia’s permanent employees.
Bannerman said construction activities during the year included bulk earthworks, civil works and the development of permanent water supply infrastructure.
The company also secured definitive supply agreements with NamPower and NamWater for long-term electricity and desalinated water supply to the project.
Bannerman spent about N$1.73 million on corporate social investment initiatives during the financial year.
Its Early Learner Assistance Programme supported 355 learners at 17 disadvantaged primary schools, while the company renewed its partnership with Mondesa Youth Opportunities for another three years.
The company also reported no lost-time injuries during the financial year, maintaining a 16-year lost-time-injury-free record as at 30 June 2026. No reportable environmental incidents or formal community grievances were recorded during the period.
Bannerman is targeting more than 80% Namibian recruitment during the 2027 financial year as development of the Etango uranium project continues.
