ASX-listed Deep Yellow has selected contractor Ausenco Services to deliver detailed engineering and engineering, procurement and construction management (EPCM) services for the company’s flagship Tumas uranium project, in Namibia.
It is intended that an EPCM commercial agreements and contracts award for detailed engineering will be finalised over the coming months, following a final investment decision (FID).
In the meantime, the parties will execute a detailed engineering agreement to advance key workstreams ahead of the FID and finalising a full EPCM contract.
“The selection of Ausenco as the preferred EPCM contractor for the Tumas project is a significant project milestone. Ausenco is . . . regarded within the industry for their technical ability and record of project delivery.
“Having Ausenco on board will complement the project delivery team to add significant value to the . . . Tumas project, in a period of extended positive outlook in the uranium supply sector,” Deep Yellow MD and CEO John Borshoff said on June 4.
He noted that the tendered price was commensurate with the capital cost estimates defined in a December 2023 recosting addendum.
“From our involvement in the project since 2019 – and in particular the work we completed on the definitive feasibility study and subsequent December 2023 recosting addendum for Tumas – we fully understand the project’s . . . potential and Tier-1 status,” Ausenco president Reuben Joseph added.