Lotus Resources completed its scoping study for the Letlhakane Uranium Project, estimating an annual production of 3 million pounds, raising total output to 5.5 million pounds with Kayelekera. The project has 45 million pounds of uranium resources, with 29 million mineable in ten years and requires $465 million capital. Optimization may reduce costs significantly. The upcoming African Mining Week will showcase mining opportunities across Africa.
Lotus Resources, listed on the ASX, has finalized its scoping study for the Letlhakane Uranium Project in Botswana, revealing the potential for an annual production of approximately 3 million pounds of uranium. When combined with the Kayelekera Uranium Project in Malawi, the company’s total expected output will rise to 5.5 million pounds per year.
The study indicates that Letlhakane contains 45 million pounds of uranium resources, with 29 million pounds identified as mineable over a 10-year operational life. Capital investment is estimated at $465 million to bring the project to fruition.
Greg Bittar, Managing Director of Lotus Resources, stated, “Our updated Scoping Study validates Letlhakane’s merits as our second uranium project that can meet the longer-term supply shortfall.” He further noted that optimization programs could reduce cash costs from US$41 per pound to US$35 per pound for this project case.
Lotus Resources is currently working on a plan that includes operational and capital expenditures, as well as determining the most efficient mining strategy to implement.
African Mining Week, scheduled for October 1-3 in Cape Town, presents a key platform for discussing mining opportunities across Africa. This event coincides with the African Energy Week: Invest in African Energies 2025 conference, providing attendees a chance to explore investment possibilities in the mining sector.
The scoping study conducted by Lotus Resources confirms the significant potential of the Letlhakane Uranium Project, indicating an important addition to the company’s uranium output. With a ten-year lifespan for mineable uranium and strategic cost-reduction initiatives, this project stands to address global supply shortages. The synchronization of African Mining Week with the African Energy Week further highlights the growing focus on energy and mining investment in the region.
Original Source: energycapitalpower.com
