en.Wedoany.com Reported - Bannerman Energy (ASX: BMN) reports that construction of its Etango uranium project in Erongo, Namibia, remains on budget and schedule, with contractor staff exceeding 560 personnel and achieving a safety record of 1.1 million hours without a lost time injury.

Overall earthworks are approximately 92% complete, with focus on the fresh water pond, wet plant benches, and heap leach pad. Production of heap leach drainage aggregate continues, with approximately 29% of the total requirement completed. Concrete works are progressing across key dry plant infrastructure areas, with 10,800 cubic meters of concrete poured, representing approximately 60% of Phase 1 and 2A works. Chief Executive Officer Gavin Chamberlain stated that the earthworks contract is now over 90% complete, a key achievement in de-risking the critical path to full construction.

The company achieved 1 million hours without a lost time injury in May 2026, extending Bannerman's 17-year safety record without incidents. Four Namibian contractors are on site responsible for earthworks, civil construction, aggregate production, and infrastructure works. Civil and mechanical design for the dry plant is approximately 94% complete, meeting the schedule requirements for construction drawings. Wet plant design is progressing on schedule, with construction drawings to be released later this year, and detailed engineering design is approximately 28% complete.

Bannerman signed a permanent water supply agreement with Namibia Water Corporation (NamWater) in early June 2026, covering water supply for the initial development of Etango-8. The project targets an average annual production of 3.5 million pounds of uranium oxide over 15 years. Phase 1 of the permanent water pipeline is approximately 87% complete. The company has also signed a definitive power supply agreement with NamPower, with detailed design of the dedicated feeder bay underway.

Bannerman Energy expects to appoint an engineering, procurement, and construction management consultant in the third quarter of 2026. All contractors on site are Namibian enterprises, including early works undertaken by local small and medium enterprises.

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