Deep Yellow Advances Tumas Project With $34 Million Contracts
Synopsis
The uranium developer has awarded two major construction contracts covering processing plant and civil works at its flagship Namibia project.
Key Highlights
- Deep Yellow announced construction contracts valued up to A$34 million for its Tumas project in Namibia.
- The contracts are awarded to 100% Namibian-owned companies Namibia Construction Pty Ltd and Nexus Building and Civils Contractors.
- FID was expected in Q4 2026 following July mobilisation and wet testing in August 2026.
Deep Yellow has issued A$34 million worth of construction contracts for its Tumas uranium project in Namibia with work due to kick off in August 2026. The contract awards, the company added, would enhance execution of the projects while not affecting its anticipated 24-month construction schedule and with an expected final investment decision (FID) in Q4 2026.
Two Major Contracts Awarded
The first of these contracts, for the design and construction of precast concrete elements throughout the processing plant, along with run-of-mine stockpile retaining structures, has been awarded to Namibia Construction Pty Ltd for A$18.5 million.
It has awarded an A$15.5 million contract to Nexus Building and Civils Contractors for civil and concrete works at the processing plant. Both contractors are 100% Namibian-owned entities.
Focus on Local Industry
Deep Yellow said the contracting awards were made ahead of the final investment decision, allowing much better flexibility and greater confidence in delivering this project. Beam Communications has agreed to combine with the privately owned business in the interactive communications field.
“We are also very pleased that both contracts have been awarded to competent Namibian companies,” Field added.
He also said the building of the Tumas Project with domestic industry, lies at the heart of its strategy and will continue to deliver long-term benefits for Namibia and shareholder value.
Source: Capital Brief
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