Bannerman hikes Namibia uranium project capital cost estimate
Uranium project developer Bannerman Resources has announced a moderate increase in the preproduction capital forecast for the Etango-8 project, in Namibia. This update follows the completion of the front-end engineering design (FEED) and control budget estimate (CBE) processes.
The completion of FEED and the CBE has refined the outcomes of the 2022 definitive feasibility study (DFS), enhancing accuracy and recency to key cost estimates. As a result, the CBE preproduction capital forecast has risen by $36-million, or 11.3%, from the DFS estimate to $353.5-million. The increase is driven by design changes and impacts of inflation.
“The FEED work has confirmed the high quality of the technical evaluation and design, as detailed in the December 2022 DFS,” said CEO Gavin Chamberlain.
He added that finalising the CBE demonstrated the robustness of the DFS cost estimates, evidenced by the lack of significant increases in forecast construction or operating costs.
“Additionally, the moderate increase in forecast pre-production capital is attributed to design enhancements that deliver cost efficiencies and reduce operating risks,” he explained.
The CBE continues to apply the total DFS contingency of $27.3-million.
Early works construction of the access road and water pipelines is currently under way and expected to be completed in July. Additionally, the company is continuing with strategic finance and offtake marketing workstreams.
Based on a nameplate capacity of eight-million tonnes a year, the Etango project is expected to have a mine life of 15 years, producing 52.6-million pounds of uranium oxide, averaging 3.5-million pounds a year.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers
VISIT SHOWROOM
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
