• Lotus Resources begins mining operations at Kayelekera after its restart.
• The site aims to reach 200,000 pounds of uranium per month by Q1 2026.
• Malawi holds 15% of the mine and will earn a 5% royalty on future revenue.

Lotus Resources announced on November 24 the official start of mining operations at the Kayelekera uranium mine in Malawi, more than three months after its restart. With this step completed, the Australian mining company plans to accelerate the site’s ramp-up in the coming months, aiming to reach its nominal capacity of 200,000 pounds of uranium per month in the first quarter of 2026.

After eleven years in care and maintenance, Kayelekera was revived in August with a $50 million investment. Lotus began with an initial production phase based solely on the 300,000 tons of ore already stockpiled on-site.

With mining activities now underway, the company plans to strengthen production by processing freshly extracted ore. The monthly target aligns with the expected annual average of 2.4 million pounds of uranium over the mine’s 10-year life.

Lotus Resources CEO Greg Bittar said the launch of drilling and blasting marks another important step for Kayelekera. He noted that stockpiled material continues to exceed expectations and that the transition to freshly mined ore will support the site’s production ramp-up.

A successful ramp-up at Kayelekera would pave the way for the site’s first uranium deliveries. Lotus has already signed binding agreements, including with Curzon Uranium and a North American power utility whose identity has not been disclosed. The Malawian state holds a 15% stake in the mine and will receive a 5% royalty on future revenue.