Lotus Resources has completed its scoping study for the Letlhakane Uranium Project in Botswana, confirming production potential of 3 million pounds of uranium annually. This project, combined with Kayelekera, will elevate total output to 5.5 million pounds. The study estimates 45 million pounds of uranium resources, requiring $465 million in capital. Optimizations could reduce production costs significantly.
Lotus Resources, listed on the ASX, has finalized its scoping study for the Letlhakane Uranium Project located in Botswana, confirming its capacity to produce approximately 3 million pounds of uranium annually. This output will elevate the company’s total production to 5.5 million pounds per year when factoring in the Kayelekera Uranium Project in Malawi. The study also estimates that the Letlhakane site holds 45 million pounds of uranium resources, with 29 million pounds deemed mineable over a decade, requiring a capital investment of $465 million.
Greg Bittar, the Managing Director of Lotus Resources, remarked, “Our updated Scoping Study validates Letlhakane’s merits as our second uranium project that can meet the longer-term supply shortfall.” He added that the optimization programs indicate a potential reduction in cash costs from $41 per pound to $35 per pound based on selected scenarios. Lotus Resources is now in the process of developing a detailed operational and capital expenditure plan while assessing the best mining strategy.
The African Mining Week Conference & Exhibition is renowned as a crucial forum for examining mining opportunities throughout Africa. This event is scheduled to occur in conjunction with the African Energy Week: Invest in African Energies 2025 conference from October 1 to 3 in Cape Town. Interested sponsors, exhibitors, and delegates are encouraged to reach out via sales@energycapitalpower.com to gather further details.
Lotus Resources has confirmed the Letlhakane Uranium Project’s substantial uranium production potential, reinforcing its role in addressing future supply shortages. The project is positioned to significantly bolster the company’s overall uranium output and is supported by a comprehensive financial plan. The upcoming African Mining Week event will further facilitate discussion on mining opportunities in the region.
Original Source: energycapitalpower.com
