Malawi uranium mine to resume operationsPublished by: Robert Li on 09/08/2024Uranium company Lotus Resources has signed an agreement with the Malawian government, paving the way to r... Uranium company Lotus Resources has signed an agreement with the Malawian government, paving the way to restart production at the currently suspended Kayelekera facility. Australian Securities Exchange (ASX)-listed natural resources company Lotus Resources has entered into a mine-development agreement (MDA) with the Government of Malawi regarding the Kayelekera uranium mine, a major step towards restarting production at the facility. The Kayelekera uranium mine, the world’s fourth largest, is located in the East African country’s northern region, and is 15% owned by the Malawian government. Lotus acquired rival uranium producer Paladin Energy’s 85% stake in March 2020, following the project’s entering a ‘care and maintenance’ – essentially mothballing – stage since 2014 in the wake of low global uranium prices, which had rendered the facility loss-making.

Source: The North Africa Journal August 09, 2024 16:31 UTC