Bannerman Energy (ASX, NSX: BMN; US-OTC: BNNLF) and its Chinese partner CNNC Overseas have approved construction of the Etango uranium project in Namibia, with funding secured without project debt and first production targeted for 2028. The development is expected to cost $353 million before production and deliver an average of 3. 5 million lb. of uranium oxide annually. About $64 million has already been spent on early works, leaving roughly $289 million in pre-production spending, Bannerman said in its announcement Friday. The decision moves Etango into full-scale construction after years of studies and preparatory work.
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