John Borshoff steps down as Deep Yellow CEO

The man who built Namibia’s Langer Heinrich uranium mine and helped shape the modern uranium industry, John Borshoff, is stepping down as Managing Director and Chief Executive Officer of Deep Yellow Limited, effective 20 October 2025.

His departure marks the close of a transformative era for both the company and the broader uranium sector.

Borshoff, who joined Deep Yellow in 2016, will remain with the company as an advisor until the end of November to ensure a smooth leadership transition.

Over nine years, he led Deep Yellow’s evolution from a junior explorer into an ASX200-listed uranium developer now positioned to become a multi-asset, multi-geography producer.

Before taking the helm at Deep Yellow, Borshoff founded Paladin Energy, where he guided the discovery, financing, and development of Langer Heinrich Mine in Namibia’s Namib Desert, one of Africa’s most successful uranium operations.

His vision transformed the project from exploration ground into a world-class mine that positioned Namibia among the leading uranium producers globally.

The Deep Yellow Board praised Borshoff’s nearly five decades of service to the uranium industry, noting his influence across exploration, mine development, and industry advocacy.

“John leaves an incredible legacy at Deep Yellow, having built one of the most experienced uranium leadership teams in the sector,” the company said. “His persistent advocacy for nuclear energy’s role in global decarbonisation has helped reshape the energy debate worldwide.”

Under Borshoff’s leadership, Deep Yellow built a diversified asset base spanning Namibia and Australia.

The company’s flagship Tumas Project in Namibia is nearing a Final Investment Decision (FID), while the Mulga Rock Project in Western Australia is progressing through its Definitive Feasibility Study. In parallel, the Alligator River Project in the Northern Territory continues to advance exploration.

A global search for Borshoff’s successor is at an advanced stage, with an announcement expected soon. In the meantime, Chief Financial Officer Craig Barnes has been appointed Acting CEO, supported by Non-Executive Chairman Chris Salisbury, who will temporarily serve as Executive Chair.

Barnes joined Deep Yellow in August 2024 and brings more than 20 years of mining-sector experience, including five years as CFO of Paladin Energy. Salisbury, a veteran of Rio Tinto, previously led Rössing Uranium in Namibia and Energy Resources of Australia.

To reflect their expanded responsibilities, Barnes will receive a temporary exertion fee of A$20,156 per month, while Salisbury will receive A$6,875 per month, in addition to existing remuneration.

The Board reaffirmed its confidence in the company’s direction, stating: “Deep Yellow remains committed to achieving its vision of becoming a global, multi-project uranium producer. With Tumas approaching FID and strong progress across Mulga Rock and Alligator River, the company is well positioned for its next phase of growth.”

For Borshoff, the announcement closes a remarkable career chapter but underscores a legacy deeply intertwined with Namibia’s uranium story.

From pioneering Langer Heinrich to steering Deep Yellow’s resurgence, he leaves behind a company – and an industry – ready to thrive on the foundation he helped build.