The Mining Licence, ML0152, which was signed by the Honourable Rashid Abdul Gaffar, Minister of Mines, on 1 September 2021
Lotus secures mining and exploration licences renewal for Kayelekera uranium project. (Credit: WikiImages from Pixabay)
Lotus Resources Limited (ASX: LOT) (Lotus or the Company) is pleased to announce the renewal of the Company’s mining and exploration licences for its Kayelekera Project (Kayelekera or the Project).
The Mining Licence, ML0152, which was signed by the Honourable Rashid Abdul Gaffar, Minister of Mines, on 1 September 2021 in accordance with the Mines and Minerals Act, has been renewed for 15 years.
Lotus Managing Director Keith Bowes commented:
“We are delighted to have received an extension of our Mining Licence for an additional 15 years. This is a critical step, as it provides certainty and confidence to our investors that Lotus has the full backing of the Government to continue our on-going development of Kayelekera, as we position the Project to be one of the first assets to recommence production in an everimproving uranium price environment.
It is important to highlight that a restart of operations also provides significant benefits to the local communities and Malawi as a whole through employment, development of local communities, taxes, royalty streams and profit share to the Government of Malawi, which is a 15% owner of the Project.
We would like to thank our local team who have worked closely with the Government through this process, as well as Malawi’s Minister of Mining, The Honourable Mr Rashid Gaffar, and the Malawian Government for their continued support.”
Source: Company Press Release