Deep Yellow secures power supply agreement for Tumas project
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The news: Uranium miner Deep Yellow has announced a power supply agreement with Namibia's state-owned utility group NamPower, as it prepares to construct its flagship Tumas project.
The context: The Tumas project will be connected to the Namibian regional grid through a purpose-built, dedicated 22km power line, which will be supplemented by an onsite solar farm.
The solar farm will be designed to supply up to the full project electrical power demand during daylight hours, when power charges from NamPower are at their peak, accounting for at least 30% of the total electrical power required for the operation.
Deep Yellow said detailed engineering for the Tumas project is more than 60% complete and over 70% of all major equipment for the process plant has been tendered.
What they said: "The execution of the power supply agreement with NamPower is another important step in advancing our preparation for the construction of the Tumas Project," said Deep Yellow's acting CEO Craig Barnes.
"Our strategy for the development of Tumas is unchanged, we will continue with the orderly derisking of the project and ensure we are ready to reach FID when we are satisfied that the uranium market supports development of a greenfield project like Tumas."
The source: ASX
