Deep Yellow delays Tumas uranium project investment decision

Deep Yellow Limited has deferred its planned final investment decision (FID) for the Tumas uranium project in Namibia. The Australian-listed developer stated that current equity market conditions do not support proceeding with the decision in the fourth quarter of 2026, which was the previous target.

Despite the delay, the company is continuing approved work at the site using existing cash reserves. Engineering for the project has reached 85% completion, and civil and concrete construction works have commenced following the award of contracts to Namibian contractors. The company is also progressing with tendering for major process plant equipment.

In terms of financing, Deep Yellow reported progress in discussions with Nedbank regarding credit approvals, though a binding financial close has not yet been reached. The pre-production capital requirement for Tumas was estimated at US$474 million in a 2025 feasibility study, though the company is currently reviewing costs and the project's financial model.