Lotus Resources Confirms Potential of Letlhakane Uranium Project in Botswana

Lotus Resources has completed its scoping study for the Letlhakane Uranium Project in Botswana, confirming a production potential of 3 million pounds of uranium annually. The project could enhance Lotus’s output to 5.5 million pounds when combined with its Kayelekera project. It has estimated uranium resources of 45 million pounds, requiring $465 million in capital. Managing Director Greg Bittar highlighted potential cost reductions in operations, with a developed plan currently in progress.

Lotus Resources, an ASX-listed company, has completed its scoping study for the Letlhakane Uranium Project in Botswana. The study confirms the project’s capacity to produce approximately 3 million pounds of uranium annually, which will increase Lotus Resources’ total yearly output to 5.5 million pounds when combined with the Kayelekera Uranium Project in Malawi. The study reveals that Letlhakane possesses 45 million pounds of uranium resources, with 29 million pounds designated as mineable over a decade, requiring a capital investment of $465 million.

Greg Bittar, the Managing Director of Lotus Resources, noted, “Our updated Scoping Study validates Letlhakane’s merits as our second uranium project that can meet the longer-term supply shortfall.” He also mentioned that optimization programs have yielded promising results, potentially reducing operational costs from $41 per pound to $35 per pound. The company is currently focusing on developing both operational and capital expenditure plans, as well as determining the most efficient mining approach.

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In conclusion, Lotus Resources has confirmed the Letlhakane Uranium Project’s significant potential, projecting an annual production of 3 million pounds of uranium. This development will enhance the company’s overall production capacity when paired with its other projects. The financial and operational planning for the project is underway, signaling a positive outlook for uranium supply in the market.

Original Source: energycapitalpower.com