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FLSmidth~Immersive Technologies~Integrated Pump Rental ~Integrated Pump Technology~Multotec~Pilot Crushtec~Schneider Electric~Trafo Power Solutions~WEG~Weir Minerals AfricaBannerman Energy, through its 95%-owned subsidiary Bannerman Mining Resources. The remaining 5% is owned by Namibian charitable body One Economy Foundation.The Etango deposit will be mined as a conventional truck-and-shovel openpit operation through contract mining over an initial mine life of 15 years.
Average production is estimated at 3.5-million pounds a year of uranium, enough to power up to eight large nuclear reactors.The project has an after-tax net present value, at an 8% discount rate, of $209-million and an internal rate of return of 17%, with a payback of 4.1 years. Bannerman will use the funds raised for detailed design work and early works construction, as well as to advance further works, including the placement and manufacturing of selected long-lead items, product marketing and project financing activities.
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