Firm upbeat on Kayelekera Uranium Mine, outlines plans

New investors in Kayelekera Uranium Mine in Karonga, Lotus Resources Limited, says it wants to grow resources to ensure a long shelf life of the mine.

The Australian mining firm’s managing director Keith Bowes said in an e-mail response on Thursday that in view of its licence renewal and the pick up in uranium prices, they are positive that the mine can support a viable long-term operation. Kayelekera Mine was put under care and maintenance in 2014 He said: “Lotus Resources recognised that part of the attraction of the Kayelekera Project when it acquired it from Paladin Energy in March 2020 was the potential to increase the existing uranium resource from the current 37.5 million pounds by undertaking exploration programmes.

“The programme itself would initially focus on the potential of the existing mining licence through extensional drilling around the current resource and investigating a number of geophysical anomalies that look like […]

Click here to view original web page at www.mwnation.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.