Bannerman’s US$321.5 million financing nears completion

CHAMWE KAIRA

Bannerman Energy says construction of early works at its Etango Uranium Project in the Erongo Region remains on schedule and within budget, while the company expects to complete its strategic financing and joint venture transaction with CNNC Overseas Limited (CNOL) during the third quarter of 2026.

In its quarterly activities report for the period ended 30 June 2026, the company said it continued to satisfy key conditions precedent for CNOL’s proposed investment of up to US$321.5 million.

Bannerman said the remaining conditions are expected to be fulfilled during the current quarter, with a final investment decision (FID) on the Etango project targeted shortly after the transaction is completed.