Lotus Resources (ASX:LOT) has received the final project approval certificate, an environmental and social impact assessment, for the Kayelekea Uranium Mine in Malawi.
Managing Director Greg Bittar says the formal and final approval to proceed with Kayelekera is a “terrific” milestone to coincide with the restart progress the company is making.
“We will continue to work closely with Malawi’s Environmental Protection Authority and all stakeholders to ensure Kayelekera’s safe and secure operation in accordance with the obligations under the ESIAR certificate and in the best interests of our onsite team, the local communities and the environment,” Bittar says.
The Kayelekera Project historically produced 11 million pounds of triuranium octoxide between 2009 and 2014, before the asset was shut to preserve its longevity due to a sustained low uranium price.
Lotus says it is on track to restart production in Q3 2025. The project has an initial 10-year mine life with a total production of 19.3 million pounds of triuranium octoxide and an annual production of 2.4 million pounds over the first seven years.
Lotus Resources is an uranium developer headquartered in Perth, Western Australia.
Uranium is primarily used to generate electricity in nuclear reactors. Construction rates of reactors have risen over the past decade to meet rising low carbon energy demand.
Global demand for uranium is expected to decline slightly in 2025, to 92 kilotons (kt) from 95 kt in 2024, before rising to 99 kt in 2027, as several countries expand their nuclear generation capacity.
The slight dip in consumption is a result of fewer reactors coming online in 2025, according to the Department of Industry, Science and Resources (DISR) June 2025 Resources and Energy Quarterly.
Write to Aaliyah Rogan at Mining.com.au
Images: Lotus Resources
