Lotus Resources confirms Kayelekera as one of the world’s lowest cost uranium projects

Lotus Resources (ASX: LOT) managing director Keith Bowes joins Small Caps to discuss the company’s restart definitive feasibility study for its Kayelekera uranium project in Malawi.

The company released the study findings last week and is now focused on fast-tracking engagements with nuclear energy utilities, arranging financing options and securing offtake deals to support the restart of the mine.

With an initial upfront capital cost of US$88 million, Kayelekera has been confirmed as one of the lowest capital cost projects of its kind in the world.

Other highlights of the study include a US$35.8 million upgrade in plant and infrastructure to improve project economics and process reliability.

Kayelekera is currently on care and maintenance since it ceased producing uranium in 2014. A restart of the project is expected to result in an average production of 2.4 million pounds of uranium oxide per year for the first seven years of a 10-year mine life.

Lotus says the timing of Kayelekera’s restart depends on the uranium price and the economic terms relating to the company’s long-term offtake agreements.

Article:
https://smallcaps.com.au/lotus-resources-dfs-kayelekera-uranium-project-amongst-worlds-lowest-capital-cost-developments/

For more information on Lotus Resources:
https://smallcaps.com.au/stocks/LOT/

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