
Lotus Signs 3 Agreements to Advance Malawi Uranium Project
Uranium production is on track for Q3, 2025, at the project.
Read the latest Archives of oil, gas and energy news.
Uranium production is on track for Q3, 2025, at the project.
The capital covers development costs at the Kasiya Rutile Graphite project.
Malawi’s $30 billion mining potential is attracting global investors, with major deals and projects set to take center stage at African Mining Week 2025.
The Kasiya Rutile-Graphite Project hosts the world’s largest natural rutile deposit and the second-largest flake graphite deposit.
The $38.5 million funding agreement was secured by Lotus Resources from First Capital Bank and Standard Bank.
Lotus Resources has also changed its Board of Directors as the firm prepares to restart uranium mining at the Kayelekera Mine in Malawi.
Kula Gold will fund a $100,000 drilling campaign for the Wozi Niobium Project in Malawi.
Sovereign Metals has completed the mining trials stage of its pilot program at the Kasiya Rutile-Graphite Project in Malawi.
The launch of Malawi’s Mining Regulatory Authority in October 2024 is yielding positive results in the critical minerals sector with several projects being expedited and new investments flocking in, according to Minister of Mining, Monica Chang’anamuno.
The capital will be raised through $44 million in share placement and $41.5 million through a Share Purchase Plan.