Other projects located in these licences are the Tubas Sand Project and Tubas Palaeochannel Resource.

Deep Yellow said that this is the third time that EPLs 3496, 3497 and 3499 have been renewed, allowing it to progress its core projects together with its prospectivity and exploration activities, mainly focused on EPL3496.

Deep Yellow managing director Greg Cochran said that renewals allow the company to continue pursuing its exploration and development strategy in Namibia.

"The renewals provide recognition of the quality of the work that has been done exploring these tenements to date and recognition of the significant potential still remaining on areas that remain underexplored, even after all these years," Cochran added.

The combined area of the EPLs was voluntarily reduced by 29%, from 262,222ha to 189,752ha.