Bannerman Energy says bulk earthworks at its Etango Uranium Project in Namibia are approximately 99% complete, with the final phase expected to be completed before the end of 2026.
The company said early construction works remain on schedule and within budget, with about 523 contractor personnel currently working on site.
Bannerman Managing Director and Chief Executive Officer Gavin Chamberlain said Phase 4 of the bulk earthworks programme began in mid-September and is focused on the process solution ponds and wet plant terraces.
“Construction work on site has continued in line with expectation, with our four Namibian contractors performing consistently well and aligned to both schedule and cost. The final phase of the large-scale bulk earthworks package is expected to be complete before year end, representing a key milestone in our early works activities and the overall development of Etango,” Chamberlain said.
The project recorded 1.6 million working hours without a lost-time injury before its first lost-time injury was recorded in September.
Meanwhile, production of heap-leach drainage aggregate has reached about 50% of the total requirement, with the material being stockpiled ahead of placement.
Concrete works are also progressing across the primary crusher and dry plant infrastructure. About 14,700 cubic metres of concrete has been cast under the Phase 1 and Phase 2A packages, representing 86% of the planned volume.
Bannerman said dry plant design is approximately 98% complete, while detailed structural engineering for the wet plant has reached 33%.
Phase 1 of the permanent water supply pipeline is about 90% complete, while design work for the Walvis Bay acid storage and handling facility has reached 53%.
The construction progress comes as Bannerman prepares to make a Final Investment Decision (FID) on Etango in the fourth quarter of 2026, following completion of its strategic investment and joint venture transaction with CNNC Overseas Limited (CNOL).
“The early works programme, and particularly the bulk earthworks contract, has been a seminal workstream in maintaining the critical path timeline for Etango,” Chamberlain said.
“With the completion of the CNOL strategic investment and joint venture transaction last week, we are making final preparations towards a targeted Final Investment Decision on Etango during Q4 2026.”
He said the FID is expected to be followed promptly by the start of full-scale construction.
The Etango Uranium Project is located in Namibia’s Erongo Region and is being developed through a joint venture between Bannerman and CNOL.
