Lotus Resources signs uranium offtake agreement with North American power utility

Lotus is set to begin producing its first uranium from the Kayelekera project in Q3 2025. Credit: RHJPhtotos/Shutterstock. · Power Technology · RHJPhtotos/Shutterstock. Lotus Resources, through its 85%-owned subsidiary Lotus Africa, has signed a binding uranium offtake agreement with a North American utility.

This contract involves the sale of 600,000lb of triuranium octoxide (U 3 O 8 ) from the Kayelekera project, scheduled for delivery between 2026 and 2029.

The agreement reflects a fixed US dollar price based on long-term market prices, with a minor discount applied.

The contract includes a fixed-price escalation percentage per annum, aligned with the Reserve Bank of Australia’s long-term inflation target, applicable from the first delivery year.This pricing was achieved through competitive discussions, ensuring favourable terms for Lotus Resources.Lotus managing director Greg Bittar said: “Formalising this offtake arrangement with a key customer is an important milestone for Lotus as we continue to progress production restart plans at […]

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