Deep Yellow awards A$34 million civil and concrete construction contracts for Tumas Project in Namibia

Deep Yellow Limited has awarded two major civil and concrete construction contracts totaling approximately A$34 million to Namibian-owned contractors for its flagship Tumas uranium project, advancing execution flexibility ahead of a Final Investment Decision targeted for Q4 2026.

Deep Yellow Limited has awarded two civil and concrete construction contracts valued at a combined estimated A$34.00 million for its flagship Tumas Project in Namibia. The contracts were awarded to 100% Namibian-owned contractors, Namibia Construction Pty Ltd and Nexus Building and Civils Contractors Pty Ltd, following a competitive tender process. Mobilisation is scheduled to commence in August 2026 to support the sequential delivery of critical infrastructure ahead of an anticipated Final Investment Decision in Q4 2026.

The scope of work awarded to Namibia Construction Pty Ltd, valued at approximately A$18.50 million, covers reinforced concrete construction within the beneficiation, leach feed thickening, and tailings transfer facilities, as well as the fabrication and installation of precast concrete elements across the processing plant and the design and construction of the reinforced earth retaining wall supporting the Run-of-Mine stockpile. The second contract, awarded to Nexus Building and Civils Contractors Pty Ltd and valued at approximately A$15.50 million, comprises the construction of reinforced concrete foundations, plinths, slabs, and associated embedded infrastructure throughout the balance of plant.

This development significantly de-risks project execution for Deep Yellow by securing high-quality construction capability and establishing multiple concurrent work fronts without altering the overall 24-month post-FID development schedule. By engaging local firms that will rely predominantly on a Namibian workforce, the decision reinforces supply chain localization and in-country capacity building within Africa’s expanding uranium mining sector. The flagship Tumas Project remains central to Deep Yellow's strategy to become a tier-one global uranium producer, while Namibia continues to solidify its role as a key jurisdiction for energy transition metals.

From an investor and strategic market perspective, committing to essential civil infrastructure ahead of FID demonstrates disciplined project management and strengthens cost predictability amidst global inflationary pressures in mining construction. For stakeholders in the energy and raw materials sectors, securing key delivery partners early positions Deep Yellow to capture growing long-term demand for uranium as global markets increasingly turn to nuclear power for decarbonisation and baseload energy security.