BOLDEN African News · Friday 23 October 2026
Bannerman approves construction of the $353 million Etango uranium mine in Namibia
Bannerman Energy announced a final investment decision on 23 October for the Etango uranium mine. Pre-production capital is estimated at $353 million, of which about $64 million had been spent on early works by 30 September. The mine is expected to produce about 3.5 million pounds of U3O8 a year, with first output in 2028, and construction is fully funded without project debt.
Why it matters
It moves another Namibian uranium project into construction, with Chinese partner CNOL holding 45% of the joint venture and committed to buy 60% of output.
Sources: African Mining Market, The Villager · 23 October 2026