Etango Construction Early Works Update, June 2025

Bannerman Energy Ltd has provided an encouraging update on the early construction works at its flagship Etango Uranium Project in Namibia, demonstrating strong operational execution in the project development phase. The company achieved a significant safety milestone with 1 million lost-time injury-free manhours in June 2025, reflecting robust safety management systems critical for large-scale uranium project development.

The construction progress remains on track with budget and schedule commitments, with key infrastructure elements being successfully implemented. Notably, the construction power overhead infrastructure has been erected and connected, representing a fundamental step in establishing the operational backbone for the uranium project. This milestone indicates the project is advancing through critical early-stage construction phases that will enable more substantial development activities.

For the uranium sector, Bannerman's steady progress at Etango represents positive momentum in bringing new uranium supply online at a time when global uranium markets are experiencing renewed interest driven by nuclear energy renaissance. The company's ability to maintain schedule and budget discipline while achieving exemplary safety performance positions Etango as a potentially reliable future uranium producer.

Looking ahead, the successful completion of early works activities provides a solid foundation for the next phases of construction at Etango. The project's advancement comes at an opportune time for uranium developers as utilities and governments increasingly recognize nuclear energy's role in clean energy transitions and energy security strategies.