Deep Yellow Soars with Ausenco: Tumas Uranium Project Progresses Towards Operational Milestones by 2026

  • Deep Yellow Limited selects Ausenco as EPCM contractor for Tumas Uranium Project, marking significant project advancement.
  • Tendered price aligns with capital cost estimates, ensuring financial clarity for stakeholders and project progression.
  • Project aims for operations by 2026, positioning Deep Yellow as a key player in Namibia's uranium mining industry.

Deep Yellow Limited (ASX: DYL) has announced a significant milestone for its Tumas Uranium Project. The company has chosen Ausenco Services Pty Ltd as the preferred contractor for Detailed Engineering and Engineering, Procurement, and Construction Management (EPCM) services.

Selection of Ausenco Services

Deep Yellow Limited, a leading uranium exploration company, has selected Ausenco Services Pty Ltd as the preferred EPCM contractor. This decision follows Ausenco’s extensive work on the February 2023 Definitive Feasibility Study and the December 2023 Re-Costing Addendum for the Tumas Project.

Key Details of the Announcement

The announcement highlights several key aspects:

Key PointsDetails
CompanyDeep Yellow Limited (ASX: DYL)
ProjectTumas Uranium Project
Preferred ContractorAusenco Services Pty Ltd
ServicesDetailed Engineering and EPCM
LocationNamibia
CEO/Managing DirectorJohn Borshoff
Date of AnnouncementJune 4, 2024

Scope of Work

Ausenco will finalize Detailed Engineering with an EPCM contract opportunity for project execution. This includes the completion of the final engineering tasks and preparation for construction management.

Tendered Price and Commercial Agreements

The tendered price aligns with the capital cost estimates defined in the December 2023 Re-Costing Addendum. Deep Yellow will finalize commercial agreements and contracts for Detailed Engineering in the coming months.

Progress Towards Final Investment Decision

Deep Yellow is progressing towards a Final Investment Decision (FID) for the Tumas Project. An EPCM contract will be executed post-FID, moving the project closer to operational status.

Timeline to Operations

Post-FID, Deep Yellow aims to commence operations in 2026. This will establish Tumas as the fourth uranium mine in Namibia.

John Borshoff’s Statement

John Borshoff, Managing Director and CEO of Deep Yellow, expressed satisfaction with the selection of Ausenco. He emphasized the importance of Ausenco’s previous work on the project and their market-leading position in engineering and consulting.

Conclusion

Deep Yellow Limited’s selection of Ausenco Services Pty Ltd marks a crucial advancement for the Tumas Uranium Project. With detailed engineering and project execution in capable hands, Deep Yellow is well-positioned to achieve its operational goals by 2026.


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