Lotus advancing Malawi project to Q3 production
ASX-listed Lotus says that the restart of the Kayelekera uranium project, in Malawi, is progressing as planned with first uranium production on track for the third quarter.
The restart schedule and capital expenditure are both on track.
The on-site restart workforce now comprises 200 local and ex-pat personnel.
All key plant refurbishment contracts have been awarded.
The company also highlights strong government and community support with the signing of the Community Development Agreement (CDA) on January 6.
The objectives of the CDA include sustainable community development; enhancing welfare and quality of life; and ensuring the recognition and respect of the rights, customs and traditions of the qualified community.
Meanwhile, Leanne Heywood and Simon Hay have been appointed nonexecutive directors effective February 3, as the company’s board transition continues.
Heywood has over 25 years’ experience in the mining sector, most recently in a senior international marketing role with Rio Tinto and is a highly experienced public company nonexecutive director, Lotus highlights.
It adds that Hay has built up extensive management and technical experience in the resources sector over 30 years and is also a highly experienced public company director.
Hayden Bartrop has also been appointed as CFO.
Nonexecutive chairperson Michael Bowen says the strong momentum on the restart work position Lotus well to transition from a uranium developer into the next global uranium producer.
“In preparation for this, we announce further changes to our board to ensure we have a well-rounded skillset across our team to commence this new chapter,” he points out.
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