Lotus Resources Validates Letlhakane Uranium Project’s Viability

Lotus Resources has confirmed the Letlhakane Uranium Project in Botswana can produce about 3 million pounds of uranium annually, contributing to a total output of 5.5 million pounds when combined with the Kayelekera Project. The study estimates 45 million pounds of resources, requiring $465 million in capital investment.

Lotus Resources, listed on the ASX, has successfully completed a scoping study for the Letlhakane Uranium Project in Botswana. This study confirms the project’s capability to produce approximately 3 million pounds of uranium annually. When combined with the Kayelekera Uranium Project in Malawi, Lotus Resources’ total yearly output is projected to reach 5.5 million pounds.

The Letlhakane Uranium Project is estimated to harbor 45 million pounds of uranium resources, with 29 million pounds deemed mineable over a projected lifespan of ten years. The capital requirements for this project are estimated at $465 million. Greg Bittar, Managing Director of Lotus Resources, remarked on the significance of the updated Scoping Study by stating, “Our updated Scoping Study validates Letlhakane’s merits as our second uranium project that can meet the longer-term supply shortfall.”

Furthermore, Mr. Bittar noted the positive results from optimization programs aimed at potentially reducing the cash cost from approximately US$41 per pound to US$35 per pound. The company is currently focused on developing operational and capital expenditure plans, alongside determining the most effective mining strategy.

In industry news, the African Mining Week Conference & Exhibition provides an important venue for mining opportunities across Africa. This event coincides with the African Energy Week: Invest in African Energies 2025 conference, scheduled from October 1-3 in Cape Town. Interested parties may contact [email protected] for more information on sponsorships and participation opportunities.

Lotus Resources has established the Letlhakane Uranium Project’s capacity for significant uranium production, revealing a potential output of 3 million pounds annually. With an estimated 45 million pounds of uranium resources, and a focus on cost reduction, the company is poised to become a notable player in the uranium mining sector. Furthermore, upcoming industry events such as African Mining Week will serve to enhance collaboration and investment within the mining community.

Original Source: energycapitalpower.com