Lotus Resources has confirmed the substantial uranium production potential of its Letlhakane Uranium Project in Botswana. The project aims for an annual output of 3 million pounds of uranium and will elevate total production to 5.5 million pounds with the Kayelekera project. The study indicates mineable resources of 29 million pounds over ten years, necessitating a capital outlay of $465 million.
Lotus Resources, listed on the ASX, has successfully completed a scoping study for the Letlhakane Uranium Project located in Botswana. This study substantiates the project’s capability to yield approximately 3 million pounds of uranium annually. When combined with the Kayelekera Uranium Project in Malawi, Lotus Resources anticipates an increase in total annual production to 5.5 million pounds.
The scoping study reveals that the Letlhakane project contains 45 million pounds of uranium resources, with 29 million pounds identified as mineable over an estimated ten-year lifespan. The capital requirement for this initiative is projected at $465 million. “Our updated Scoping Study validates Letlhakane’s merits as our second uranium project that can meet the longer-term supply shortfall,” stated Greg Bittar, Managing Director of Lotus Resources.
Bittar highlighted that recent optimization programs have shown promising potential to reduce the cash cost from US$41 per pound to US$35 per pound. The company is now focused on developing both operational and capital expenditure plans while seeking the most efficient mining approach for this project.
In related industry news, the African Mining Week Conference & Exhibition is scheduled to take place alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. This event provides a significant platform for exploring various mining opportunities throughout Africa. Interested parties are encouraged to reach out to sales@energycapitalpower.com for further details.
In summary, Lotus Resources’ scoping study for the Letlhakane Uranium Project has confirmed the project’s substantial uranium production potential, positioning it as a key contributor to Lotus Resources’ output. The company is actively pursuing plans for capital and operational expenditures while evaluating the mining approach. Additionally, the forthcoming African Mining Week presents opportunities for engagement in the broader mining sector across Africa.
Original Source: energycapitalpower.com
