Deep Yellow Unit Executes Power Supply Agreement for Namibia Uranium Project

MT Newswires Live12-17 09:08

Deep Yellow's (ASX:DYL) wholly owned subsidiary, Reptile Uranium Namibia, and Namibia Power executed a transmission power supply agreement for the

Tumas project, according to a Wednesday Australian bourse filing.

The agreement is subject to certain conditions, including a final investment decision in relation to the project, the filing said.

The project will be connected to the Namibian regional grid through a dedicated power line with capacity of 4 megavolt-amperes, per the filing. Deep Yellow is responsible for the design and construction of the overhead power line, switching yard, and transformer/substation.

A draft water supply agreement and draft development agreement were received from Namibia Water, and negotiations on these agreements will now take place.

Deep Yellow's shares rose 2% in recent trading on Wednesday.

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