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Dig Deep – The Mining Podcast Podcast
Uranium Insights - with Brandon Munro
Apr 28, 2021
01:00:45
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Quick takeaways
- Long-term projects create relationships and knowledge base for successful development.
- Choosing project locations strategically can lead to transformative impacts on countries in need.
- Current uranium deficit is being met by drawing down excess inventories.
- Streamlining projects reduces development hurdles and aids in quicker production.
- Industry experts predict a rise in uranium prices due to supply cuts and market deficits.
- Promoting uranium and nuclear energy requires active engagement to dispel misconceptions and shape positive narratives.
Deep dives
Introduction of the Guest - Brandon Monroe, CEO of Bannerman Resources
The podcast features Brandon Monroe, the CEO of Bannerman Resources. Bannerman Resources is an ASX and NSX-listed exploration and development company with a 95% interest in the Etango uranium project in Namibia. Brandon Monroe is an author of the book 'Uranium Insights' and serves as the chair of the Nuclear Fuel Demand Working Group within the World Nuclear Association.
Brandon Monroe's Background and Entry into the Uranium Sector
Brandon Monroe graduated in Perth, Western Australia, with degrees in economics and law. He started his career working as a lawyer in the resources sector, mainly focusing on capital markets and mergers and acquisitions. About ten years ago, he entered the uranium sector, initially working for Bannerman as a general manager.
Bannerman Resources Overview and Focus on Etango Uranium Project
Bannerman Resources is entirely focused on the Etango uranium project in Namibia, which has been in development since 2006. The project is one of the largest undeveloped uranium projects globally, proposed to be an open-pit, bulk mining, heap leach operation similar to the Rossing Uranium Mine. It has strong environmental approvals and completed a native feasibility study in 2015.
Tango 8 Development Plan and Project Restructuring
A scoping study unveiled the 'Tango 8' development plan that aims to streamline the project, reducing development hurdles to facilitate earlier production. The reimagined approach offers increased leverage to the uranium price and operational flexibility, potentially allowing production by 2025. Tango 8's structured approach aligns production capacities with market demands.
Uranium Demand and Market Dynamics
Current uranium prices pose a challenge to Bannerman Resources as the project requires a significant price increase for viability. Factors such as supply cuts implemented by major producers like Cameco and Kazatomprom, coupled with COVID-19 disruptions, have tightened the market, leading to a primary deficit. Industry experts anticipate an inevitable price rise to sustain uranium production and address market deficits, critical for ensuring a stable energy supply.
Evolving ESG Practices and Challenges in the Uranium Sector
Brandon Monroe emphasizes the importance of Environmental, Social, and Governance (ESG) practices in the uranium sector. He highlights the sector's critical role in climate mitigation and the need for proactive engagement with ESG standards for sustainable investment. Monroe advocates for better industry promotion and alignment with ESG benchmarks to secure future financing and investor confidence.
Engagement with ESG and Nuclear Field Demand Working Group
Brandon Monroe reflects on his engagements within the nuclear industry, particularly with the World Nuclear Association's Nuclear Fuel Demand Working Group. His strategic advisory role in the mining charter and active participation in governance highlight the sector's commitment to ethical and responsible operations. Monroe stresses the industry's ongoing efforts to align with ESG expectations and secure support for uranium mining projects.
Promotion of Uranium Industry and Engagement with Stakeholders
Brandon Monroe notes the importance of promoting uranium and nuclear energy, shaping positive narratives, and engaging with stakeholders to dispel misconceptions. He encourages active participation on platforms like Twitter and LinkedIn to foster industry dialogue and awareness. Monroe underscores uranium's pivotal role in clean energy provision, addressing climate challenges, and enhancing sustainable investment practices.
Challenges and Opportunities in the Uranium Market
Brandon Monroe discusses the challenges and opportunities in the current uranium market, emphasizing the need for sustainable uranium pricing to support industry viability. Highlighting the role of nuclear power in clean energy production, Monroe acknowledges the industry's transition towards addressing environmental, social, and governance concerns for long-term sustainability.
Importance of Engagement and Education in the Uranium Sector
Brandon Monroe stresses the significance of industry engagement, education, and proactive communication to enhance public understanding of uranium and nuclear energy. He advocates for increased dialogue with ESG evaluators and stakeholders to promote uranium sector investments. Monroe's efforts focus on fostering transparency, sharing success stories, and shaping a positive industry narrative.
Wrap-Up and Call to Action for Engagement and Promotion
Brandon Monroe concludes by encouraging active participation, sharing of industry knowledge, and engagement in uranium sector discussions. He invites listeners to connect with him through Twitter or LinkedIn for further information and industry insights. Monroe emphasizes the industry's critical role in addressing climate challenges and promoting sustainable energy solutions.
In this episode we chat to Brandon Munro, CEO at Bannerman Resources, an ASX and NSX listed exploration and development company with an 95% interest in the Etango Uranium Project in Namibia. Brandon is on the podcast to discuss all things uranium as he is an expert in this sector. He is the author of a book called “Uranium Insights” and also the chair of the nuclear fuel demand working group within the World Nuclear Association so is entrenched in the sector.
We discuss why the world needs uranium and why it’s been in a bear market since the Fukushima nuclear accident in 2011 and what happened since then. We talk about the supply and demand issues and why the price is very low to its all-time high.
It’s an interesting episode packed with knowledge if you want to know more about uranium as it enters a bull market and why uranium is needed for global energy supply.
KEY TAKEAWAYS
- Having run a project for over 15 years has allowed Bannerman to create a foothold, not just in terms of relationships, but knowledge base.
- Refining projects means that projects become more streamlined in terms of development hurdles. This can then be expanded back outwards.
- Helping people is easy, but having a truly transformative effect upon people’s lives is more difficult. That is why choosing the site of projects can allow true change for countries that need it.
- Today, there is a pronounced deficit in uranium, which is being met by draw-down in excess inventories.
BEST MOMENTS
‘The nuclear energy sector is a very conservative sector’
‘We have a degree of pedigree in terms of consistency’
‘You can have such a big impact on so many lives’
‘We had a 10% hole punched out of demand’
VALUABLE RESOURCES
Dig Deep – The Mining Podcast on iTunes
Brandon Munro LinkedIn - https://www.linkedin.com/in/brandonmunro/?originalSubdomain=au
Brandon Munro Twitter - https://twitter.com/brandon_munro?lang=en
ABOUT THE HOST
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community insight into people's experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.
Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specializing in all areas of mining across the globe from the first world to third world countries from Africa, Europe, the Middle East, Asia, and Australia. We source, headhunt, and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our client's organizations in any mining discipline or level. Mining International provides a transparent, informative, and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.
CONTACT METHOD
Email: rob@mining-international.org
Website: https://www.mining-international.org/
LinkedIn: https://www.linkedin.com/in/rob-tyson/
Twitter: https://twitter.com/MiningRobTyson
Facebook: https://www.facebook.com/DigDeepTheMi...
Instagram: https://www.instagram.com/digdeepthem...
YouTube: www.youtube.com/c/DigDeepTheMiningPod...
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