Australia’s Deep Yellow on 16 October dropped its target of a final investment decision on the Tumas uranium project in Namibia by the end of 2026, saying equity market conditions do not support one. The company set no new date and will keep paying for civil and concrete works from its cash reserves; Namibia renewed the project’s environmental clearances on 2 October. Tumas is designed to produce about 3.6 million pounds of uranium oxide a year, and managing director Greg Field said difficult equity markets constrain funding options for uranium developers. The delay pushes back a new source of Namibian uranium supply even though site works are well advanced.
Sources
- Surestone (ASX announcement summary): https://surestone.com.au/news/asx/dyl/deep-yellow-withdraws-q4-2026-fid-target-for-tumas-2026-10-16
- Sightline U3O8: https://sightlineu3o8.com/2026/10/deep-yellow-pushes-out-fid-on-tumas-uranium-project-in-namibia/
- Grafa: https://grafa.com/en/news/australia/deep-yellow-delays-decision-on-tumas-uranium-project
- The Namibian: https://www.namibian.com.na/tumas-uranium-project-nears-finance-stage/
- Engineering News: https://www.engineeringnews.co.za/article/deep-yellow-sets-a372m-price-tag-on-tumas-2023-02-02