Bannerman Mining Resources Namibia’s parent company Bannerman Energy Ltd, recently completed an A$85M equity raising which has significantly bolstered their balance sheet strength. This is a key enabler to executing the streamlined strategy of financing and constructing Etango.

The A$85M allows Bannerman to extend their capacity to continue making early works commitments in line with targeted project scheduling.

The next phases of early works are expected to be greenlit in the coming months and include the contract for the heap leach pad drainage and the concrete construction contract for the primary crusher, the permanent water pipeline contract, the instruction to commence manufacture on the dry plant mechanical equipment and the extension to engineering consultants’ contracts to ensure continuity of design.

Bannerman Mining Resources Namibia, Managing Director, Werner Ewald comments:
The continuity of the construction work on site helps us to plan work better. The work force remains motivated and the focus on safety, health and environmental aspects is maintained.

Bannerman’s focus on tight contract and activities controls is a core driver of the team’s performance to date at Etango. The companies gated approach to early construction works investment has allowed them to systematically advance the Etango project, mitigate timing risks, and ensuring that work is undertaken safely and to a high standard of delivery.

One key highlight for the team in June was the achievement of 1 million manhours with no lost time injuries. This is an excellent reflection on the focus the team has on working safely.

The key site activities currently in at Etango progress include:

• Execution of the key 24-month bulk earthworks contract continues to advance according to schedule. The terracing for the construction laydown, as well as secondary and tertiary crushers, has been completed. The construction of the heap leach pad is advancing well, and the excavation of leach ponds has also commenced.
• The Etango site road infrastructure is nearing completion, including the widening of the intersection at the C28 intersection and final backfilling around culverts. Site access parking is also well advanced.
• The heap leach pad at Etango spans 1km x 300m and is one of the most significant pieces of work in the construction. Setting out of the heap leach pad area has been undertaken, and construction of cells commenced. The next phase will be the placement of the lining on top of the platforms and the drainage pipes which then get covered with a stone drainage layer. The longest lead item in the process is the production of the correct drainage stone. In order to align these 3 steps we have focused on the blasting, crushing and sizing of stone for the drainage layer. The contract has been placed to secure costs and supply of the mobile crushing equipment required and the contract for the crushing to begin will be placed once the equipment is on site.
• Construction of all the permanent 33kV overhead powerlines on the Etango site has been completed and connection to the local electrical distributor for construction power has been successfully commissioned. The mini sub-stations required to connect site offices to the power grid were delivered in June 2025, and all residual work on this contract is expected to be completed during July 2025.

You can view our latest project video showing progress at Etango below

Contributed By Bannerman Mining Resources Namibia