Who we are
Bannerman Energy is an Australian listed uranium development company (ASX: BMN, OTCQX: BNNLF, NSX: BMN). Our flagship asset is the highly advanced Etango Project located in the Erongo Region of Namibia.
Etango has benefited from extensive exploration and feasibility activity since we listed as a public company on the Australian Securities Exchange (ASX) in 2005. The Etango tenements possess a globally large-scale uranium mineral resource. A 20Mtpa development at Etango was the subject of a Definitive Feasibility Study (DFS) completed in 2012 and a DFS Optimisation Study completed in 2015. We constructed and operated a Heap Leach Demonstration Plant at Etango, which comprehensively de-risked the acid heap leach process to be utilised on the Etango ore.
Namibia is a premier uranium investment jurisdiction, with a 45-year history of uranium production and export, excellent infrastructure and support for uranium mining from both government and community. As the world’s fourth largest producer of uranium, Namibia is an ideal development jurisdiction boasting political stability, security, a strong rule of law and an assertive development agenda.
Etango has environmental approvals for the proposed mine, based on a 12-year environmental baseline. We are a socially responsible leader within Namibia and exercise best-practice governance in all aspects across our business.
In August 2020, we completed a Scoping Study on an 8Mtpa development of Etango (Etango-8 Project). The Scoping Study has demonstrated that this accelerated, streamlined project is strongly amenable to development – both technically and economically.
In August 2021, we completed a Pre-Feasibility Study (PFS) on Etango-8. The PFS confirmed that this accelerated, streamlined project is strongly amenable to development – both technically and economically. The level of planning rigour for Etango-8 has been bolstered through the PFS process via the inclusion of dual pit ramps in the northern and central pits, detailed plant design and higher accuracy estimation.
In December 2022, we completed the Definitive Feasibility Study (DFS) on Etango-8. The DFS on Etango-8 is a study of world-class quality, with input from leading experts across each facet of mining uranium in Namibia. Critically, the DFS confirmed, to a definitive level, the robust overall viability of development and operation of the Etango-8 Project. View the key physical and financial outcomes of the Etango-8 Definitive Feasibility Study here.
We have commenced Front End Engineering and Design (FEED) work for Etango-8. Our Mining Licence application was submitted in August 2022 and we are well underway with parallel offtake and project finance workstreams. All of this activity is driving towards a targeted positive Final Investment Decision (FID) on Etango-8, uranium market conditions permitting, during H2 CY2023.