Lotus Resources reports all-round progress at recently restarted Kayelekera Uranium Mine in Malawi

About this update from Lotus Resources Limited

Lotus Resources (ASX: LOT, OTCQX: LTSRF) said on March 10 that it is ramping up production at its Kayelekera Uranium Mine in northern Malawi . The processing plant operated at 80% capacity in the second half of February with a milling rate of 65% of the steady-state level, the firm said in an ASX update. This places it on track to achieve nameplate capacity in the June quarter. The cold commissioning of the acid plant at the mine is underway, with hot commissioning planned for April. The acid inventory and ongoing delivery schedule will support ramp up of production to steady state by June. Lotus stated that it received preliminary confirmation in early February that an initial product sample it sent to a western converter is within its required product specification parameters. The parties are working to finalise the target product specification based on the current product quality, which has been optimised over recent months and will be in line with the long-term product quality profile from the mine. Kayelekera resumed production in August 2025 , having been under care and maintenance since 2014 following a decline in uranium prices. Lotus holds 85% interest in the mine while the Malawi government owns 15%. “Progress at Kayelekera during February was pleasing, and we are demonstrating continued improvement in plant availability, milling rate and other key processing parameters, which positions us for steady-state production in Q2 CY2026,” said Lotus MD Greg Bittar . “Lotus’ recent capital raising positions the balance sheet for us to complete key capital projects to optimise Kayelekera and will support working capital through product qualification, ramp up and first product delivery.  This is without relying on significant debt for working capital and allows Lotus to remain predominantly uncontracted for future uranium sales.” © 2026 bne IntelliNews, source Magazine

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