Scoping Study
BANNERMAN
MINING RESOURCES NAMIBIA
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Emma Culver: newsletters@bmnenergy.com.
Editorial team: Gavin Chamberlain, Emma Culver
Gavin Chamberlain, Emma Culver Production: Words’Worth
Words’Worth
Construction Update
wo important steps towards constructing the Etango Project have
wo important steps towards constructing the Etango Project have
been taken. “The early works contracts for the Etango temporary
been taken. “The early works contracts for the Etango temporary
water pipeline and the access road were placed in December 2023 and
water pipeline and the access road were placed in December 2023 and
construction works were commissioned at the end of January 2024,” informs
construction works were commissioned at the end of January 2024,” informs
Andre Alberts, Technical Project Manager at Bannerman Mining Resources
Andre Alberts, Technical Project Manager at Bannerman Mining Resources
Namibia.
Namibia.
Namibbeton, a local Namibian contractor, is the appointed contractor with
Namibbeton, a local Namibian contractor, is the appointed contractor with
construction supervision being done by Creo Engineering Solutions.
construction supervision being done by Creo Engineering Solutions.
Water pipeline
The temporary water pipeline installation covers a 24km stretch from the
The temporary water pipeline installation covers a 24km stretch from the
B2 down to the Swakop River valley and up to the Etango site. It will mostly
B2 down to the Swakop River valley and up to the Etango site. It will mostly
run underground and consists of High Density Polyethylene (HDPE) pipe
run underground and consists of High Density Polyethylene (HDPE) pipe
sections welded together and will terminate at a steel reservoir on site.
sections welded together and will terminate at a steel reservoir on site.
“This pipeline will ensure that all construction work on site for building
“This pipeline will ensure that all construction work on site for building
the processing plant can continue while the permanent water pipeline will
the processing plant can continue while the permanent water pipeline will
be constructed,” says Andre. “Installation of the first half of the pipeline is
be constructed,” says Andre. “Installation of the first half of the pipeline is
complete and the first performance testing took place in April. Completion
complete and the first performance testing took place in April. Completion
of the pipeline installation is planned for end of July 2024 and is well on
of the pipeline installation is planned for end of July 2024 and is well on
track.”
track.”
Access road
An access road consisting of a 4km engineered gravel road will connect the
An access road consisting of a 4km engineered gravel road will connect the
Etango site to the C28 road. Materials for construction are being borrowed
Etango site to the C28 road. Materials for construction are being borrowed
from selected sites on the Etango mining license. The roadbed and cut-to-fill
from selected sites on the Etango mining license. The roadbed and cut-to-fill
work has been completed, with the subbase and base layers installed. The
work has been completed, with the subbase and base layers installed. The
road construction work is on track to meet the completion deadline of end-
road construction work is on track to meet the completion deadline of end-
May 2024.
May 2024.
“Meeting the Environmental and Social Impact Assessment’s guidelines
“Meeting the Environmental and Social Impact Assessment’s guidelines
and requirements has been a key focus for all stakeholders involved,” says
and requirements has been a key focus for all stakeholders involved,” says
Andre. This includes a careful exercise of locating and demarcating sensitive
Andre. This includes a careful exercise of locating and demarcating sensitive
environmental and archaeological areas.
environmental and archaeological areas.
“Successfully executing the works without any lost-time injuries is a
“Successfully executing the works without any lost-time injuries is a
testimony of Bannerman’s high safety standards.” Andre attributes this to
testimony of Bannerman’s high safety standards.” Andre attributes this to
good collaboration between the Bannerman team, Creo, and Namibbeton.
good collaboration between the Bannerman team, Creo, and Namibbeton.
The construction water pipeline is positioned.
Andre Alberts, Technical Project Manager at Bannerman Mining Resources Namibia
BUILDING A GIANT
FROM THE GROUND UP
Length of temporary
water pipeline
Lost-time injuries
on site
Length of access
gravel road
Completion of the
pipeline installation
24 km
4 km
Zero
July 2024
We can go higher and longer (cont)
Key Physical Parameters: Etango-8, -XP and -XT Projects
Key Physical Parameters
Etango-8
Etango-XP
Etango-XT
Life of Mine U
Life of Mine U3O8 output:
output:
52.6 Mlbs over 15 years
52.6 Mlbs over 15 years
95.2 Mlbs over 16 years
95.2 Mlbs over 16 years
95.2 Mlbs over 27 years
95.2 Mlbs over 27 years
Annual average U
Annual average U3O8 output:
output:
3.5 Mlbs
3.5 Mlbs
6.7 Mlbs (after plant expansion)
6.7 Mlbs (after plant expansion)
3.5 Mlbs
3.5 Mlbs
Expansion capex:
Expansion capex:
US$ 0
US$ 0
US$ 325 million
US$ 325 million
US$ 0
US$ 0
Sustaining cash cost:
Sustaining cash cost:
US$ 38.1/lb of U
US$ 38.1/lb of U3O8
US$ 42.5/lb of U
US$ 42.5/lb of U3O8
US$ 45.3/lb of U
US$ 45.3/lb of U3O8
THE MAN WHO HAS STUDIED IT ALL
erner Moeller, Director of Qubeka Mining
erner Moeller, Director of Qubeka Mining
Consultants, has had a 15-year association
Consultants, has had a 15-year association
with the Etango Project, taking it through the
with the Etango Project, taking it through the
different study phases of the 8 Mtpa business
different study phases of the 8 Mtpa business
case and optimising it to advance Etango to the
case and optimising it to advance Etango to the
construction stage.
construction stage.
“Towards the end of 2023 we started evaluating
“Towards the end of 2023 we started evaluating
potential life-of-mine extension scenarios from
potential life-of-mine extension scenarios from
the current 15 years by increasing the Etango
the current 15 years by increasing the Etango
Project’s plant throughput to 16 Mtpa. From
Project’s plant throughput to 16 Mtpa. From
a mining engineering perspective, I ran and
a mining engineering perspective, I ran and
evaluated the different production schedule
evaluated the different production schedule
BANNERMAN ENERGY | MAY 2024
scenarios.” This culminated in two alternate
scenarios.” This culminated in two alternate
future expansion options for the XP and XT
future expansion options for the XP and XT
Scoping Study to the current Etango-8 Mtpa
Scoping Study to the current Etango-8 Mtpa
Project.
Project.
“We are delighted with the XP and XT
“We are delighted with the XP and XT
Scoping Study results, which demonstrate
Scoping Study results, which demonstrate
that Etango is a long-life, low-cost and
that Etango is a long-life, low-cost and
economically robust open pit uranium project
economically robust open pit uranium project
with significant upside. It is geologically
with significant upside. It is geologically
consistent, metallurgically simple and
consistent, metallurgically simple and
technically low risk with a low capital intensity
technically low risk with a low capital intensity
and significant future upside.”
and significant future upside.”
LOOK WHO’S BLOWING
OUT CANDLES
The following celebrate their
birthdays in the coming weeks.
MAY
• Emma Culver, Communications Coordinator
• Alison Terry, Non-Executive Director
•• Werner Ewald, Managing Director
JULY
• Steve Herlihy, Chief Financial Officer
•• Imelda Naobes, Office Administrator
• Bannerman Energy Ltd (Australia)
•• Bannerman Mining Resources Namibia
LEGEND