Perth-based Lotus Resources now putting logistics in place after restarting Malawian uranium project Kayelekera in August

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ASX-listed Lotus Resources (Lotus) has hailed the progress it has made at its uranium project in Malawi , saying that it has enabled it to join the exclusive club of global uranium producers. In its financial results for its year to June 2025 , Lotus said it produced its first uranium oxide at its Kayelekera Uranium Mine (Kayelekera) in the southern African nation in late August.  It delivered its plan to start the brownfield project on time and within budget, with its refurbished processing plant now transferred to operations, the group said in the financials it released on September 24 . 'It is a testament to the quality and dedication of the team that we delivered the restart plan on time and on budget, with production now underway,' said Greg Bittar , the MD whose company has another uranium project in neighbouring Botswana . Kayelekera, which is situated in northern Malawi , has a mineral resource estimate of 51.1mn pounds of triuranium octoxide (U3O8). Lotus has executed four binding offtake agreements with major global utilities and traders for 3.5 to 3.8mn pounds of uranium sales between 2026 and 2029. Bittar said the accelerated restart that Kayelekera made is a 'terrific' achievement. 'We have offtake contracts with some of the world’s largest power utilities and we are well positioned to capture value from uranium supply deficits forecast through to the 2030s, for the benefit of all stakeholders and our shareholders.' Lotus said it is now focused on optimising logistics of product delivery to the uranium converters, which it said will provide it with cash flows from the first half of 2026. 'We are also investing in long-term infrastructure to minimise life-of-mine operating cost at Kayelekera, including the grid connection, where Lotus has awarded fixed price contracts for transmission and substation infrastructure, and preparing the tailings storage facility for a 10-year life-of-mine,' he added. © 2025 bne IntelliNews, source Magazine

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