Key points
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Lotus produces first yellowcake at Kayelekera mine in Malawi.
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Production expected to reach 2.4 million pounds yearly by 2026.
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Company secures sales contracts with North American utilities.
Lotus Resources, an Australian mining company, has produced the first batch of uranium oxide, known as yellowcake, at its Kayelekera mine in Malawi. The mine, which Lotus owns 85 percent of, had been on care and maintenance since 2014.
The company said the restart was completed on time and within budget. Production will gradually increase, with plans to reach 2.4 million pounds of uranium oxide annually by early 2026.
Managing Director Greg Bittar said the milestone shows Lotus is on track to become a significant player in the global uranium market.
“This first production from Kayelekera since 2014 highlights the dedication of our team and partners,” Bittar said.
Production ramp-up ahead of first shipment
Lotus plans to begin sending samples of yellowcake for qualification in the coming weeks. While that process is completed, the company will build inventory and prepare for its first commercial shipment later this year.
By the first quarter of 2026, the mine aims to reach steady-state production of 200,000 pounds per month.
The company has already secured four binding sales contracts totaling 3.8 million pounds of uranium, including deals with three North American utilities.
Bittar said the agreements show strong demand and provide confidence in the mine’s future revenue stream.
Global uranium market boosts confidence
The restart comes as uranium demand grows worldwide, driven by interest in nuclear energy as a low-carbon power source. Industry analysts say projects like Kayelekera are critical to supply.
For Malawi, the project represents a chance to revive a once-productive mine and re-establish its role in the uranium industry.
Lotus expects Kayelekera to become a reliable supplier as the company works toward meeting rising global demand.
