Australian uranium firm ‘blown away’ by Etango gains

THE Australian-listed uranium development company Bannerman Energy has commended the work of Namibian contractors at its Etango project.

During the company’s latest earnings call on 4 March, chief executive Gavin Chamberlain told investors that all contractors at its operations in Namibia are local.

“We’ve been blown away by the progress and the commitment to safety and to schedule from these contractors. It’s almost like they’re going the extra mile because they want to prove that as Namibians, they can actually deliver. And we are super happy with the way they’re performing on site at the moment,” he said.

Bannerman in Namibia has confirmed that the total value of contracts placed exceeds N$690 million. Company spokesperson Matjiua Hengua at the event said the company also employs local consultants and has contracts worth N$109 million.

“We will continue to tender contracts to Namibian companies, and as long as they are commercially competitive, we see no reason why we will not continue with the successful construction of the Etango project using local contractors,” he said.

During the earnings call, Chamberlain also told investors the company has reduced the size of certain contracts so that Namibian contractors are capable of completing the work on schedule.

Hengua said the company assessed the ability of pre-existing contractors to conduct structural, mechanical, piping and plate work installations (SMPP).

Bannerman found that the constructors had the skills and capabilities, but not the capacity for the size of the project.

“We therefore revisited our procurement plan and decided to split the SMPP into smaller packages so that more than one contractor can tender the work and assist us to achieve the project schedule,” Hengua said.

The company expects to share new tender packages with constructors in the near future.

The Etango project is one of two major uranium projects in the Erongo region currently under development. Bannerman Energy recently entered into a financing deal with a subsidiary of China National Nuclear Corporation to fund the continued development of the project.

Bannerman in February said it aimed to make a final investment decision on the project by the end of the year.

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