Leadership Change at Deep Yellow Raises Questions on Uranium Project Timelines

Leadership Change at Deep Yellow

Deep Yellow Ltd (ASX, DYL), a prominent player in the uranium mining sector, has announced a significant leadership transition with the stepping down of Managing Director and CEO John Borshoff, effective 20 October 2025. Mr. Borshoff, who has been at the helm since 2016, will remain with the company as an advisor until the end of November to facilitate a smooth handover.

Under Borshoff's stewardship, Deep Yellow evolved from a junior explorer into an ASX200 company poised to become a multi-asset, multi-geography uranium producer. His extensive five-decade career in the uranium industry, including founding Paladin Energy Limited, has left a lasting legacy on both the company and the broader sector.

Interim Leadership and Board Support

In the interim, Deep Yellow’s Chief Financial Officer, Craig Barnes, has been appointed Acting CEO. Barnes brings over 20 years of experience in the resources sector, including a previous tenure as CFO at Paladin Energy, positioning him well to steer the company through this transitional phase. Supporting Barnes, Non-Executive Chairman Chris Salisbury will take on a temporary Executive Chair role. Salisbury’s background includes senior leadership roles at Rio Tinto and uranium-focused operations, providing seasoned guidance during the leadership change.

Both Barnes and Salisbury will receive temporary exertion fees for their expanded responsibilities, underscoring the company’s commitment to maintaining stability and continuity.

Strategic Vision Remains Unchanged

Despite the leadership shuffle, Deep Yellow’s Board expressed confidence in the company’s strategic direction. The firm is advancing its flagship Tumas Project in Namibia towards a Final Investment Decision, progressing the Definitive Feasibility Study for the Mulga Rock Project in Western Australia, and continuing exploration at the Alligator River Project in the Northern Territory.

Deep Yellow’s portfolio, noted for its geographic and development diversity, positions the company to capitalize on the growing global demand for nuclear energy as a low-carbon power source. The leadership transition comes at a pivotal moment as the company aims to become a reliable uranium producer with production optionality and geographic reach.

Looking Ahead

A global search for a permanent CEO is underway, with the Board committed to appointing a leader capable of driving Deep Yellow’s next growth phase. Investors and industry watchers will be keen to see how the new leadership shapes the company’s trajectory amid a dynamic uranium market and evolving energy landscape.