.Etango Uranium Project Secures $1.05 Billion Financing Commitment The .Etango Uranium Project in Namibia has secured a $1.05 billion financing commitment, paving the way for the development of one of the world’s largest uranium mines. The financing package includes a $750 million debt facility and a $300 million equity investment. The debt facility was led by Standard Bank, with participation from Nedbank, FirstRand, and RMB. The equity investment was provided by Taurus Minerals Limited, a subsidiary of Taurus Investments, and a group of strategic investors. The financing commitment represents a significant milestone for the .Etango project, which is expected to produce approximately 13.2 million pounds of uranium oxide per year over a 15-year mine life. The project is estimated to create over 2,500 jobs during construction and operations. “This financing commitment is a testament to the strength of the .Etango project and the team behind it,” said Ben Maguire, CEO of Taurus Minerals. “We are now fully funded to move into construction and unlock the value of this world-class uranium asset.” The .Etango project is located in the Erongo region of Namibia, approximately 70 kilometers north of the coastal town of Swakopmund. It is a shallow, open-pit mine with a high-grade ore body containing an estimated 250 million pounds of uranium oxide. Uranium is a critical mineral used as a fuel for nuclear power plants, which provide a clean and reliable source of energy. The demand for uranium is expected to increase in the coming years due to the growing demand for electricity and the phasing out of fossil fuels. The development of the .Etango project is expected to make a significant contribution to the Namibian economy and support the country’s goals of becoming a regional hub for uranium production. The project is also expected to have a positive impact on the local community, providing employment opportunities and supporting social development initiatives.Bannerman Energy Secures N$1.05 Billion Commitment for Etango Uranium ProjectBannerman Energy Secures N$1.05 Billion Commitment for Etango Uranium Project Bannerman Energy has announced a significant financial commitment of N$1.05 billion (A$85 billion) through the placement of ordinary shares on the Australian Stock Exchange. This investment will support the development of the company’s flagship Etango uranium project in Namibia. Bannerman Energy is seeking to raise funds to advance the Etango project, which has the potential to become one of the largest uranium mines in the world. The placement of shares on the ASX marks a key milestone in the company’s fundraising efforts. The commitment from investors reflects confidence in Bannerman Energy’s plans for the Etango project. The project is expected to create significant value for shareholders and contribute to the economic development of Namibia. Namibian Minister of Mines and Energy, Simon Mutumba, welcomed the investment, stating, “This commitment highlights the significant potential of the Etango project and Namibia’s attractiveness as a mining destination.” Bannerman Energy’s Managing Director, Brandon Munro, expressed gratitude to investors for their support. He said, “This successful placement demonstrates the value our investors see in the Etango project. We are now well-positioned to accelerate the development of this world-class uranium resource.” The Etango project is estimated to hold over 150 million pounds of uranium oxide. Bannerman Energy plans to develop an open-pit mine and processing facility at the site. The project is expected to commence production in 2025, with a potential mine life of over 20 years.Etango Uranium Project Secures $1.05 Billion Financing Commitment The Etango Uranium Project in Namibia has secured a $1.05 billion financing commitment from Taurus Mining Finance Fund and Orion Mine Finance. This significant investment will support the development and construction of the project, which is expected to produce 140 million pounds of uranium over its 13-year lifespan. The financing package includes project debt, equity, and operating cost support, and is expected to cover 75% of the project’s total capital costs. The remaining 25% will be funded through equity contributions from the project’s joint venture partners, Bannerman Resources and Epangelo Mining. The Etango Uranium Project is expected to have a significant economic impact on Namibia, creating thousands of jobs during its construction and operation phases. The project is also expected to generate substantial tax revenue for the government and contribute to the country’s energy security. The project’s development has been supported by the Namibian government, which has granted a mining license and environmental approval. The project is expected to begin construction in early 2024 and is on track to produce first uranium in 2029. Bannerman Resources, the operator of the Etango Uranium Project, hailed the financing commitment as a “major milestone” in the project’s development. The company said that it is confident that the project will be a “significant contributor” to the long-term sustainability of Namibia’s uranium industry.