Africa-Press – Namibia. AUSTRALIAN-listed uranium development company Bannerman Mining Resources has submitted an application for a mining licence to the Ministry of Mines and Energy for the proposed Etango-8 uranium mine.
AUSTRALIAN-listed uranium development company Bannerman Mining Resources has submitted an application for a mining licence to the Ministry of Mines and Energy for the proposed Etango-8 uranium mine.
The company’s flagship Etango Project is one of the world’s largest undeveloped uranium assets located in the uranium mining jurisdiction of Namibia.
The application is a significant step towards bringing Etango-8 into production and is a major milestone in the company’s long history in Namibia, dating back to the 2006 granting of the exclusive prospecting licence, EPL 3345, to explore for nuclear fuels near Goanikontes in the Erongo region.
Over time, Bannerman has proven to be a responsible player in the uranium sector and a corporate citizen, known for its Early Learner Assistance Scheme that has benefitted 3 300 Namibian children across the nation.
According to the Namibia Chamber of Mines, the mining licence application is the culmination of extensive technical and economic evaluation of the Etango uranium project.
“In particular, this step validates the company’s 2020 decision to focus on a throughput of eight million tonnes per annum, the namesake capacity for Etango-8,” said the chamber of mines in its latest newsletter.
Until then, Bannerman devoted its energy on a larger scale uranium project with a throughput of 20 million tonnes per annum – now referred to as “Etango-20”. The extensive feasibility work that precedes Etango-8 includes a definitive feasibility study (DFS) (2012) and a DFS optimisation study (2015).
After the completion of a world-standard, peer-reviewed environmental and social impact assessment and management plan, Bannerman was granted an environmental clearance certificate for the proposed mine and associated linear infrastructure.
Bannerman completed the Etango-8 pre-feasibility study in August 2021, including declaration of an ore reserve, and is currently in the process of completing the Etango-8 definitive feasibility study.
The impact of the Etango-8 uranium project on the wider Namibian community is significant. During construction, there will be 1 000 people on site; once in operation it will create 760 direct jobs and a multiplier effect of up to 5 000 indirect jobs for Namibians.
Etango-8 forecasts an average annual output of 3,5Mlbs U3O8, enough uranium to power seven to eight conventional nuclear reactors – an output that would reduce 64 million tonnes of carbon emissions annually, compared with equivalent coal-fired power.
Over Etango-8’s initial 15-year mine life, Bannerman is forecast to contribute approximately N$1,3 billion in royalties and N$4,5 billion in company tax to the Namibian government.
As the 15-year mining reserve is only a fraction of total uranium resources at Etango, the mine may well continue for many more years.
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The company’s flagship Etango Project is one of the world’s largest undeveloped uranium assets located in the uranium mining jurisdiction of Namibia.
The application is a significant step towards bringing Etango-8 into production and is a major milestone in the company’s long history in Namibia, dating back to the 2006 granting of the exclusive prospecting licence, EPL 3345, to explore for nuclear fuels near Goanikontes in the Erongo region.
Over time, Bannerman has proven to be a responsible player in the uranium sector and a corporate citizen, known for its Early Learner Assistance Scheme that has benefitted 3 300 Namibian children across the nation.
According to the Namibia Chamber of Mines, the mining licence application is the culmination of extensive technical and economic evaluation of the Etango uranium project.
“In particular, this step validates the company’s 2020 decision to focus on a throughput of eight million tonnes per annum, the namesake capacity for Etango-8,” said the chamber of mines in its latest newsletter.
Until then, Bannerman devoted its energy on a larger scale uranium project with a throughput of 20 million tonnes per annum – now referred to as “Etango-20”. The extensive feasibility work that precedes Etango-8 includes a definitive feasibility study (DFS) (2012) and a DFS optimisation study (2015).
After the completion of a world-standard, peer-reviewed environmental and social impact assessment and management plan, Bannerman was granted an environmental clearance certificate for the proposed mine and associated linear infrastructure.
Bannerman completed the Etango-8 pre-feasibility study in August 2021, including declaration of an ore reserve, and is currently in the process of completing the Etango-8 definitive feasibility study.
The impact of the Etango-8 uranium project on the wider Namibian community is significant. During construction, there will be 1 000 people on site; once in operation it will create 760 direct jobs and a multiplier effect of up to 5 000 indirect jobs for Namibians.
Etango-8 forecasts an average annual output of 3,5Mlbs U3O8, enough uranium to power seven to eight conventional nuclear reactors – an output that would reduce 64 million tonnes of carbon emissions annually, compared with equivalent coal-fired power.
Over Etango-8’s initial 15-year mine life, Bannerman is forecast to contribute approximately N$1,3 billion in royalties and N$4,5 billion in company tax to the Namibian government.
As the 15-year mining reserve is only a fraction of total uranium resources at Etango, the mine may well continue for many more years.
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