Bannerman Energy Ltd (ASX:BMN) completed a $320.4 million investment and joint venture agreement with CNNC Overseas related to the Etango uranium project in Namibia, according to a Friday filing with the Australian bourse.

CNNC Overseas, a subsidiary of China National Uranium (SHE:001280), now holds a 45% interest in Bannerman UK unit, Bannerman Energy (UK), which in turn owns 95% of Etango project.

A shareholders agreement was executed for the incorporated joint venture formed through Bannerman Energy (UK), establishing the governance principles for the unit and key offtake terms.