By: Creamer media

The milestone follows the successful commissioning of the processing plant, with production planned to ramp up to 2.4-million pounds of U3O8 a year in the first quarter of 2026. The restart has been delivered on schedule and within budget, the company reported.

“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,” MD Greg Bittar said.

“Achieving this milestone on budget and within the timeline of third quarter 2025 targeted at the beginning of Kayelekera’s accelerated restart is a testament to the quality and dedication of Lotus’ team, contractors and all stakeholders," he stated.

Lotus will now start sending 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,” said Bittar.

The company aims to reach steady-state production of 200 000 lb/m in the first quarter of 2026. It has secured four binding sales agreements for up to 3.8-million pounds of uranium from 2026, including with three North American utilities.