Lotus Resources Receives Final Environmental Approval for Kayelekera Uranium Project

• Environmental and Social Impact Assessment (ESIA) Certificate issued by Malawi's Environment Protection Authority in August 2025 
• Regulatory approval enables restart of uranium mine that operated from 2009-2014 
• Project contains 44.8 million pounds of uranium resources with 23 million pounds in ore reserves 
• Lotus holds 85% ownership through subsidiary Lotus (Africa) Limited 
• Certificate follows positive feasibility study completed in 2022 and accelerated restart plan from October 2024

Lotus Resources Limited (ASX:LOT) is a uranium development company with assets in Africa. The company holds an 85% interest in the Kayelekera Uranium Project in Malawi and 100% ownership of the Letlhakane Uranium Project in Botswana.

The company's total uranium resource base is 164.8 million pounds. Kayelekera produced approximately 11 million pounds of uranium from 2009 to 2014 before entering care and maintenance.

Receipt of ESIA Certificate - Final Environmental Approval

Malawi's Environment Protection Authority (MEPA) issued the Environmental and Social Impact Assessment Certificate for the Kayelekera Uranium Mine, providing "Notice of Approval to Proceed with the Project." MEPA approved the ESIA in May 2025, with the certificate issued in August 2025.

The ESIA process covered environmental and social impact assessments according to Malawi's regulatory requirements. MEPA reviewed project plans and mitigation measures during the assessment period.

Project Restart Officially Authorised

The ESIA Certificate represents the final regulatory requirement for restart, following other permits obtained during development. Managing Director Greg Bittar stated:

"The formal and final approval to proceed with the Kayelekera Uranium Mine is a terrific milestone to coincide with the restart progress we are making."

The approval enables construction and operational activities at the site. The project uses existing processing facilities and infrastructure from its 2009-2014 operational period. Lotus maintained key infrastructure during care and maintenance.

The company's accelerated restart plan from October 2024 builds on the positive feasibility study completed in August 2022. The feasibility study established ore reserves and operational parameters for resuming production.

Project Overview and Corporate Stake

Kayelekera contains 44.8 million pounds of uranium resources in measured, indicated, and inferred categories. Ore reserves total 23 million pounds in proven and probable classifications, comprising 42.5 million tonnes at 500 parts per million uranium oxide grade.

Existing stockpiles contain 2.6 million pounds of uranium in run-of-mine material plus additional low-grade stockpiles. Processing infrastructure includes mill facilities and tailings storage from previous operations. The site has established power supply and transportation access.

Lotus holds its 85% interest through Lotus (Africa) Limited. The project operates under Malawi's mining regulatory framework with government support for uranium development. Infrastructure includes roads, power connections, and processing facilities from the 2009-2014 operational period.

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