Bannerman chooses Wood to undertake detailed design work at Namibia project
Global consulting and engineering firm Wood has been selected by Bannerman Energy to deliver the detailed design phase of its flagship Etango-8 uranium project in Namibia.Wood says it has supported Bannerman on the Etango project for over a decade, delivering two feasibility studies and one prefeasibility study on the development.
The firm will apply its hydrometallurgical expertise in the uranium sector to design the next phase of Etango's development.
“We’re delighted to continue working with our long-standing partner, Bannerman, on the next phase of this globally significant uranium project. Importantly, our front-end engineering design included a focus on sustainable solutions for the development, and we look forward to implementing these in the next phase of the project," Wood's minerals, metals and life sciences president Jim Shaughnessy said.
The Etango-8 project is progressing towards a final investment decision, which is expected later this year.
Reach investment decision
Meanwhile, Bannerman CEO, Brendon Munro earlier this year said Bannerman was able to raise money from a private placement to advance the Etango project.
“Proceeds from this placement will enable us to further progress our Etango-8 project, following positive outcomes from the recently announced front-end engineering and design and control budget estimates processes, which confirmed the high quality of technical evaluation and design from the December 2022 definitive feasibility study,” Munro said.
Giving a breakdown, Munro explained that the proceeds from the placement, in addition to cash on hand, will be applied towards the development of the Etango uranium project, which includes a detailed design, early works, including construction infrastructure, earthworks and selected long-lead items. The remainder would be allocated towards general working capital up until 30 June 2026.
The placement would also help Bannerman reach a targeted investment decision within 2024, he explained.
“We have commenced detailed design work and early works construction, and the placement will enable us to advance further works, including the procurement and manufacturing of select long-lead items, product marketing and project financing activities. These activities are all directed towards advancing Etango to a targeted positive final investment decision during the second half of 2024."