Lotus Resources has produced the first U3O8 [“yellowcake”] from its 85%-owned Kayelekera Uranium Mine in Malawi.

This major milestone is a key final step in Kayelekera’s successful processing plant commissioning, with Kayelekera’s production planned to ramp up to 2.4M lbs of U3O8 per annum in Q1 of 2026.

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HIGHLIGHTS:

 • First yellowcake drummed at Kayelekera, marking a key step in Lotus’ transition to becoming a global uranium producer.

• Kayelekera restart achieved on schedule and within budget.

• Samples to be sent shortly to each of the three western uranium converters for qualification ahead of first uranium despatch from site late 2025.

• Targeting ramp up to steady-state production level of 200,000 lbs per month in Q1 2026.

• It marks the first yellowcake at Kayelekera since the asset was put on care and maintenance by its previous owner in 2014.

Also Read: Lotus Resources begins high-grade ore processing at Kayelekera

Lotus Managing Director Greg Bittar commented: “We are positioned to join the ranks of global uranium producers with the first yellowcake from Kayelekera.

This terrific milestone signifies the first production since the mine was put on care and maintenance in 2014 and Lotus is delighted to be making such progress at what is a crucial time for the global uranium market.

Achieving this milestone on budget and within the timeline of Q3 CY25 targeted at the beginning of Kayelekera’s accelerated restart is a testament to the quality and dedication of Lotus’ team, contractors and all stakeholders.

We can now commence sending our yellowcake to the converters for qualification. Samples are expected to be dispatched in the coming weeks.

While these qualification and account reopening processes are finalised, we will continue to focus on ramping up production and building inventory in anticipation of our first uranium shipment later this year.”

Lotus currently has four binding sale arrangements for up to 3.8M lbs of uranium [minimum of 3.5M lbs] to be produced at Kayelekera starting from 2026, including with three leading North American power utilities.