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Deep Yellow Awards Two Construction Contracts Worth AU$34 Million for Flagship Namibia Project

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Deep Yellow (ASX:DYL) awarded two civil and concrete construction contracts with an aggregate value of about AU$34 million for its flagship Tumas project in Namibia, according to a Monday filing with the Australian bourse.

The first contract awarded to Namibia Construction has an estimated value of about AU$18.5 million, and the second awarded to Nexus Building and Civils Contractors has an estimated value of AU$15.5 million, per the filing.

Mobilization is expected to start in August, with the civil and concrete works to be delivered sequentially, Deep Yellow said.

The company is targeting a final investment decision for the project in the fourth quarter.

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