Australian uranium developer Deep Yellow Limited has awarded civil and concrete construction contracts worth approximately N$393 million (A$34 million) to two Namibian companies for its flagship Tumas Uranium Project, as it advances towards a final investment decision (FID) in the fourth quarter of 2026.
The contracts were awarded following a competitive tender process to Namibia Construction (Pty) Ltd and Nexus Building and Civils Contractors (Pty) Ltd, both 100% Namibian-owned companies.
Namibia Construction secured the larger contract, valued at approximately N$214 million (A$18.5 million), covering reinforced concrete works for the beneficiation, leach feed thickening and tailings transfer facilities.
The contract also includes the fabrication and installation of precast concrete elements and the construction of a reinforced earth retaining wall supporting the run-of-mine stockpile.
Nexus Building and Civils Contractors was awarded a contract worth approximately N$179 million (A$15.5 million) for reinforced concrete foundations, plinths, slabs and associated infrastructure across the remainder of the processing plant.
Deep Yellow Managing Director and Chief Executive Officer Greg Field said the awards marked another milestone in the company’s strategy to reduce execution risks ahead of the investment decision.
“These awards represent another important milestone in our disciplined approach to project development. Our objective has always been to systematically remove execution risk, secure high-quality contractors and ensure the project is positioned for efficient delivery as we advance toward FID towards the end of this year,” Field said.
Mobilisation is expected to commence in August 2026, with construction activities to be carried out sequentially.
Deep Yellow said the contracts would not alter the project’s critical path or planned 24-month construction schedule following FID but would improve execution flexibility, reduce scheduling risks and support efficient project delivery.
The company said the contracts would be executed predominantly using Namibian labour, creating local employment opportunities and ensuring a significant share of the project’s economic benefits remains in Namibia.
“Civil and concrete works are fundamental to the successful delivery of any major processing facility. Securing these capabilities now creates multiple construction work fronts, increasing execution flexibility and strengthening confidence in execution once FID is reached,” Field said.
The Tumas Uranium Project, located in Namibia’s Erongo Region, is a key component of Deep Yellow’s growth strategy as the company works towards making a final investment decision later this year.
