Bannerman Energy approves investment for Etango mine

• Bannerman Energy approved a positive final investment decision to proceed with the construction of its Etango uranium mine.
• Following the announcement, the Bannerman Energy share price was up at $3.00.
• The decision allows the business to transition into full-scale construction on a debt-free development model.

Bannerman Energy (ASX:BMN) approved a positive final investment decision to proceed with the construction of its flagship Etango Uranium Project in Namibia.

The decision transitions the company from project planning into full-scale site construction following the completion of early infrastructure activities.

“We take this decision from a position of real strength on the ground. Our early works programme has been delivered safely and has tracked to budget and schedule,” said Bannerman Energy Executive Chairman Brandon Munro.

The project development model relies on direct equity funding alongside joint-venture partner contributions rather than debt financing.

Following the announcement, the Bannerman Energy share price was up at $3.00.

Bannerman Energy focuses on developing uranium deposits to supply nuclear power utilities globally.

The company controls a 55% interest in the joint venture that holds the Etango property licence.