By: African mining market

Lotus Resources has completed its scoping study for the Letlhakane Uranium Project in Botswana, confirming the mine’s potential to produce approximately 3 million pounds of uranium per year.

The project will increase Lotus Resources’ total annual output to 5.5 million pounds, when combined with the Kayelekera Uranium Project in Malawi.

The study estimates Letlhakane holds 45 million pounds of uranium resources, with 29 million pounds mineable over a 10-year lifespan and US$465 million in capital required.

“Our updated Scoping Study validates Letlhakane’s merits as our second uranium project that can meet the longer-term supply shortfall,” stated Greg Bittar, Managing Director, Lotus Resources, adding “Our optimization programs have delivered promising results to potentially decrease the cash cost from US$41/lb to US$35/lb for this selected case.”

The company is now developing an operational expenditure and capital expenditure plan, while determining the optimal mining approach.