Lotus Resources (ASX:LOT) has produced its first triuranium octoxide (yellowcake) from its Kayelekera Uranium Mine in Malawi, marking the final step in its processing plant commissioning.
Ahead of its first uranium despatch from the site later this year, Lotus Resources will ship samples to its three western uranium converters for qualification.
The company has sale arrangements with three North American power utilities to supply 3.8 million pounds of uranium from Kayelekera, beginning next year.
The plant is expected to ramp up production in Q1 2026, with an estimated production of 2.4 million pounds of triuranium octoxide per year.
Lotus is targeting a “steady-state production” level of 200,000 pounds per month in Q1 2026.
Managing Director Greg Bittar says the company is positioned to meet the ranks of other global uranium producers following its first return of yellowcake.
“This terrific milestone signifies the first production since the mine was put on care and maintenance in 2014 and Lotus is delighted to be making such progress at what is a crucial time for the global uranium market,” Bittar says.
“Achieving this milestone on a budget within the timeline of Q3 CY25 targeted at the beginning of Kayelekera’s accelerated restart is a testament to the quality and dedication of Lotus’ team, contractors, and all stakeholders.”
The asset was put on care and maintenance by a previous owner in 2014, marking this yellowcake as the first produced since.
Lotus Resources is an African-focused uranium explorer that holds an 85% stake in the Kayelekera Uranium Project, along with its wholly owned Letlhakane Uranium Project in Botswana.
Write to Maddison Elliott at Mining.com.au
Images: Lotus Resources
