Lotus Resources has signed a commercial deal to sell roughly 80 tonnes of off-specification uranium ore product to a US-listed global critical minerals company, injecting near-term cash into the business as it ramps up operations.
The sale and purchase agreement covers stockpiled material produced during the early commissioning and restart phases at the company’s Kayelekera mine in Malawi.
As previously flagged to the market in July and October, the batch contained elevated levels of impurities, rendering it unsuitable for direct delivery to a nuclear fuel converter in the immediate term.
Following a review of options to reprocess, blend, or offload the stockpile, Lotus elected to execute an outright sale. While the lower product specification means the parcel will change hands at a discount to standard contract prices, the deal is expected to deliver meaningful liquidity to support ongoing site ramp-up and speed up the company’s push toward positive operating cash flow.
Under the agreement, the inventory will be delivered on Free on Board (FOB) terms out of the port of Walvis Bay in Namibia. Based on current logistics timelines, the consignment is slated to become Kayelekera’s second overall product shipment.
Crews are currently packaging the material on site, with Lotus targeting despatch within the next month to meet scheduled shipping windows.
The company noted that the off-specification batch was largely an artefact of early restart activity, stressing that product quality has improved substantially following targeted plant optimisation and operational upgrades.
