ENERGY SOLUTION TO SUPPORT THE WORLD’S NET-ZERO GOALS
Lotus Resources Limited (ASX:LOT; OTCQB:LTSRF) is an Australian Stock Exchange Listed Company (ASX: LOT) and owns an 85% interest in the Kayelekera Uranium Project in Malawi, Africa.
Kayelekera is currently on care and maintenance and is past producing asset having delivered approximately 11 million pounds uranium, before its closure due to a sustained low uranium price.
Lotus released a Re-Start Definitive Feasibility (DFS) Study in August 2022 that highlighted Kayelekera ranks as one of the lowest capital costs (US$88m) uranium projects globally whilst also having the ability to quickly recommence production (15 months development for construction/refurbishment) once a Final Investment Decision (FID) has been made.
The Kayelekera Uranium Project (“Kayelekera” or the “Project”) in Malawi, Africa is the fourth largest uranium asset globally by historical annual production currently on care and maintenance. The Project produced ~11MIbs U3O8 equivalent over five-years between 2009-2014, before the asset was shutdown to preserve its longevity due to a sustained low uranium price.
The infrastructure at the Project is significant and includes a 1.5Mtpa processing facility, administration offices, an existing opencut mine, tailings dams, accommodation camp and other mine infrastructure that historically cost more than +US$200m.
Lotus is striving to become a sustainability leader, contributing to a sustainable low carbon future. We have established the key focus areas for our sustainability strategy, which was guided by the GRI Standards, and engagement with our stakeholders.
Kayelekera’s mining licence renewed.
Community Development Agreement under final review
Further strengthened and diversified the Board and management team
Established a Sustainability Committee.
Completed the Kayelekera DFS.
We continue to investigate the latest sustainability trends that are relevant to our business and stakeholders.
Uranium is a key energy pillar in the world’s transition towards a Net Zero future. We are developing a project focused on reducing global GHG emissions as well as implementing effective measures and energy sources to reduce Kayelekera’s direct carbon emissions.
We believe that maintaining good relationships with the communities that surround our mine is fundamental to enhancing business productivity and sustainability on all its projects.
Lotus Resources and its Board are committed to achieving and demonstrating the highest standards of corporate governance and acting with integrity, honesty and cultural sensitivity in all its dealings