True value of Etango
Managing Director of BMRN, Werner Ewald (pictured right), was
invited to speak at the *CNNC Rössing Uranium 2023 Sustainability
and Performance Conference in June. The title of his presentation
was “Unlocking the value of Bannerman’s Etango deposit”. While
he impressed delegates with the resource size and the possibility of
expanding or extending the mine life, as well as the test work proving
that the deposit is well suited for heap leaching, he dwelled on the
‘true value’ of the project. These included a zero-incident safety record,
Bannerman being the first mining company to support any tourism-
related venture, and the company’s environmental remediation. Its Early
Learner Assistance programme, which has benefitted over 3 500 learners
across six regions of Namibia, is a particular source of pride.
*CNNC = China National Nuclear Corporation
built the access road and water pipeline, it makes
sense for them to continue with this work.
The second contract, to build the powerline
and install the associated electrical switchgear
necessary for the construction work on site,
will be awarded shortly. This will certainly be
awarded to a local contractor.
The third will be for the bulk earthworks
which include the heap leach pad, terracing
and the ripios disposal site. This contract has
been adjudicated and contract finalisation is in
progress.
Project update
oth new and existing investors have faith in
the Etango-8 Project, and have demonstrated
this by committing A$85 million to further
develop the project.
Funds raised from this two-tranche placement
of shares will go towards detailed design, early
works (including construction infrastructure,
earthworks and selected long-lead items), and
general working capital. These activities will
advance Etango to the Final Investment Decision
during the second half of 2024.
“We are excited by the support we have
received from investors, both for our project
and the way our company has steered this asset
in the rapidly strengthening uranium market.
Proceeds from this placement will enable us to
further progress our Etango-8 Project, following
positive outcomes from the recently announced
Front End Engineering and Design (FEED) and
Control Budget Estimates (CBE) processes,” says
Brandon Munro, Bannerman Energy’s Chairman.
Three follow-up contracts will be awarded.
The one, for extending the road network on
the site (from the entrance gate where the access
road ends to the various areas on the mine site),
will go to local contractor Namibbeton. As they
CONFIDENCE BOOST FOR NAMIBIAN ECONOMY
Benefits of heap leaching
Heap leaching is a low-cost process to recover precious metals, such as gold,
copper and uranium, from their primary resources (ores and minerals). It is an
effective and economical solution for the environment and produces only minor
emissions from furnaces. The cost of the heap leaching process is low, making
this process an attractive option from a financial standpoint.
True value is only achieved if we can do this work
safely, taking the environmental aspects into
account, and working closely with our community.