Photo by: Bloomberg
ASX-listed Lotus Resources has welcomed the support expressed by Malawi Mining Minister Monica Chang’anamuno for the restart of the Kayelekera project.
The Minister, along with a delegation of local and national government officials, visited the project site in late February to gain insight into the activities on site, as well as Lotus' environmental and social programmes.
The Minister and company executives also discussed the need to finalise a mine development agreement (MDA) for the project.
Lotus, which owns 85% of Kayelekera, reports that the Minister's team had indicated that there was strong support, backed by President Dr Lazarus Chakwera, for the timely finalisation of the MDA.
“We were very pleased that the Honourable Minister was able to travel to site. We were also very encouraged by her comments around the MDA negotiations and the support that her and the President of Malawi are giving for a speedy completion to the MDA negotiations, while also ensuring that a balanced MDA is achieved,” says Lotus MD Keith Bowes.
The Kayelekera project hosts a resource of 51.1-million pounds of triuranium octoxide and historically produced about 11-million pounds of uranium between 2009 and 2014.