We sat down with Brandon Munro from Bannerman Energy to discuss their transformative deal with CNNC and the broader uranium market landscape.
Brandon has been at the helm of Bannerman for a decade, guiding the company through one of the most challenging financing environments in mining. With deep expertise in the uranium sector and years of experience operating in Namibia, he shares unique insight into the uranium supply crunch, the contracting cycle, and how to get a deal done.
In this episode, we cover:
How the deal came together
Negotiating with a Chinese SOE
Why now was the right time
Choosing strategic equity over project finance
Whether partnering with the Chinese was the only choice
China's voracious long-term uranium demand
Why the uranium market will overshoot
Follow Brandon on:
LinkedIn - https://www.linkedin.com/in/brandonmunro/
X - https://x.com/brandon_munro
This was recorded on 26.2.2026.
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TIMESTAMPS
(00:00) China’s Uranium Imperative
(03:50) Uranium Cycle Since Fukushima
(07:00) Etango-8 Rethink Explained
(08:50) CNNC JV Deal Breakdown with Bannerman
(34:40) Why Build Now
(38:00) Financing Tradeoffs
(41:50) Regulatory Guardrails
(47:00) China Demand Surge
(52:00) AI Power and Wrap-Up
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