Deep Yellow Secures A$34 Million Civil Contracts for Tumas Uranium Project

Namibian Contractors Win Key Construction Contracts

Deep Yellow Limited (ASX:DYL) has taken a significant step forward in its Tumas uranium project development by awarding two major civil and concrete construction contracts with a combined estimated value of around A$34 million. Both contracts have gone to fully Namibian-owned companies, reinforcing the company’s commitment to local content and in-country capability building.

The first contract, valued at approximately A$18.5 million, was awarded to Namibia Construction Pty Ltd. It covers reinforced concrete works across beneficiation, leach feed thickening, tailings transfer facilities, and the fabrication and installation of precast concrete elements, including a reinforced earth retaining wall for the Run-of-Mine stockpile. The second contract, worth about A$15.5 million, was awarded to Nexus Building and Civils Contractors Pty Ltd and encompasses reinforced concrete foundations, plinths, slabs, and embedded infrastructure for the balance of plant.

Execution Strategy Focused on Risk Reduction and Flexibility

Mobilisation for these contracts is slated for August 2026, with works planned to be delivered sequentially. While these early works do not impact the critical path or the planned 24-month construction schedule post-Final Investment Decision (FID), they create multiple concurrent work fronts. This approach is designed to reduce schedule risk and increase execution flexibility, a key part of Deep Yellow’s disciplined project execution strategy as it moves toward an anticipated FID in the fourth quarter of 2026.

Deep Yellow’s Managing Director Greg Field emphasised the importance of securing high-quality local contractors early to de-risk the project and position it for efficient delivery. “Civil and concrete works are fundamental to the successful delivery of any major processing facility. Securing these capabilities now creates multiple construction work fronts, increasing execution flexibility and strengthening confidence in execution once FID is reached,” Field said.

Project Development Anchored by Local Industry Partnerships

The awarding of contracts exclusively to Namibian-owned firms aligns with Deep Yellow’s strategy to foster sustainable local capability and maximise economic benefits for Namibia. The use of predominantly Namibian workforces is expected to contribute to in-country economic development alongside advancing the project’s technical milestones.

Deep Yellow’s Tumas Project is a flagship uranium development in Namibia, part of the company’s dual-pillar growth strategy targeting over 10 million pounds of uranium production annually. The company is simultaneously advancing exploration and development activities, including significant earthworks and engineering progress earlier this year, as it prepares for the next phase of construction.

With a Final Investment Decision expected in Q4 2026, the award of these civil and concrete contracts marks a tangible step in transforming Tumas from a development project into a construction-ready operation, while maintaining flexibility and mitigating execution risks through early contractor engagement.