Lotus Resources has completed a scoping study for the Letlhakane Uranium Project in Botswana, confirming a production potential of 3 million pounds of uranium annually. Combined with the Kayelekera Project, total output will rise to 5.5 million pounds. The study estimates 45 million pounds of resources, with a required capital investment of $465 million. Managing Director Greg Bittar highlighted cost optimization efforts to reduce cash costs significantly.
Lotus Resources, listed on the ASX, has finalized its scoping study for the Letlhakane Uranium Project in Botswana, confirming its annual production potential of approximately 3 million pounds of uranium. When combined with the Kayelekera Uranium Project in Malawi, this will raise the company’s total output to around 5.5 million pounds.
The study highlights that Letlhakane contains an estimated 45 million pounds of uranium resources, with 29 million pounds deemed mineable over a ten-year period, requiring a capital investment of $465 million. Greg Bittar, Managing Director of Lotus Resources, affirmed, “Our updated Scoping Study validates Letlhakane’s merits as our second uranium project that can meet the longer-term supply shortfall.” He also noted an expected decrease in cash costs from US$41 per pound to US$35 per pound due to optimization efforts.
Lotus Resources is currently working on an operational and capital expenditure plan, alongside evaluating the most efficient mining strategy for the project. The company aims to optimize its mining operations for increased productivity.
The completion of the scoping study by Lotus Resources underscores the Letlhakane Uranium Project’s significant potential in the uranium mining sector, with a projected annual output of 3 million pounds. This strategically positions the company for enhanced productivity by complementing its existing operations in Malawi and addresses supply shortfalls in the market. As development progresses, further optimization and cost reduction strategies are anticipated to bolster the project’s viability.
Original Source: energycapitalpower.com
