Bannerman means business

BANNERMAN Resources demonstrated that uranium exploration is an ‘expensive business’ during a recent visit by the Erongo Regional Council to the Etango Project site.

By the time the Etango Project is in full production, which was projected to be achieved by 2014, Bannerman’s investors will have spent more than N$5 billion in constructing and developing the mine. In fact, N$400 million has already been spent on exploration and feasibility studies to enable Bannerman to apply for a mining license for the project. This was conveyed to Erongo’s councillors as part of the briefing on the progress of the Etango Project. According to Brandon Munro, General Manager of Bannerman, skills and community development, and job opportunities, are the most visible benefits to the region. ‘Once operational, the mine will also stimulate enterprise development as our 950 employees will all need somewhere to eat, shop, live and entertain themselves. This additional economic activity would typically generate another 500 secondary jobs. Furthermore, Bannerman goes to great lengths to maximise the opportunities for Namibian businesses to supply our current requirements and this philosophy will extend to our mining operations,’ he said.Munro acknowledged that the mine will also result in an increase in the workload for regional as well as state-owned enterprises, and discussed the close working partnership that will need to exist between the mines and Government. Augustinus Mungunda, senior geologist, briefed the councillors on the specific geological characteristics of the project. The envisaged open pit mine will stretch over a length of 6km with a width varying between 500m and 1km. Once in production the mine will produce five to seven million pounds of uranium oxide (U3O8) per year. Presenting the Bannerman timeline, Mr. Werner Ewald, Project Co-ordinator, informed the councillors that environmental clearance was already received and Bannerman is working steadily towards receiving a mining licence this year. He emphasised the importance of getting investors on board to put into production a mine with a life expectancy of approximately 18 years.With 79 per cent of employees from previously disadvantaged groups, it came as no surprise that Bannerman’s Affirmative Action Policy was approved in July. Bannerman currently employs 33 personnel in Namibia, of whom 32 are Namibian citizens.