• Longtime CEO John Borshoff exits, with CFO Craig Barnes named interim head

• Company advances Tumas uranium project but delays investment decision

• Successor will guide shift from exploration to uranium production

The Australian company Deep Yellow, active on the Tumas uranium project in Namibia, announced on October 20, the departure of John Borshoff, its chief executive officer since 2016. The board said the search for his successor is at an advanced stage. In the meantime, chief financial officer Craig Barnes will serve as interim CEO, while Borshoff remains with the company until the end of November 2025 to ensure a smooth transition.

Under the outgoing CEO’s leadership, Deep Yellow advanced its Tumas project from early exploration to the final feasibility study. The final investment decision, initially expected in 2025, has been put on hold pending more attractive uranium prices on the global market.

The board praised Borshoff’s extensive career, noting his five decades of work in the global uranium industry. His experience spans exploration, construction, and mining production, including the creation of Paladin Energy, owner of Namibia’s Langer Heinrich uranium mine.

Deep Yellow’s next CEO will oversee the company’s transition from an exploration firm to a uranium producer. In addition to Tumas, which can deliver 3.6 million pounds annually over more than 20 years, the company is advancing two lithium projects in Australia. It remains to be seen whether Borshoff’s successor will continue the cautious approach or accelerate development timelines.

Emiliano Tossou