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Nuclear|Resources
Nuclear|Resources
nuclear|resources

Lotus inks offtake with North American utility

7th April 2025

By: Creamer Media Reporter

     

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ASX-listed Lotus Resources has bagged another sales agreement with a leading North American utility for offtake from its Kayelekera mine in Malawi, the company announced on Monday.

Lotus said the contract pricing was a fixed US-dollar price based on the published long-term prices of leading nuclear market research and analysis companies, less a non-material discount. A fixed-price yearly escalation percentage applied from the time of first delivery for subsequent delivery years, with the amount in line with Reserve Bank of Australia long term inflation target.

“Securing and formalising an offtake agreement with another Tier 1 customer is an important milestone for Lotus as we continue to progress production restart plans at Kayelekera towards our third quarter of 2025 goal," said MD Greg Bittar in a press statement.

"We are focused on engaging with existing offtake partners as well as with a significant number of potential offtake customers to grow contracted offtake of Kayelekera’s production and minimise the company’s uncontracted production.”

Lotus stated that given the total volume of its contracts and the consensus uranium price forecast, all material assumptions underpinning the information in the accelerated restart plan for Kayelekera continued to apply.

 

Edited by Creamer Media Reporter

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