Australia's Lotus Resources gains on Malawi power deals

Lotus Resources

01/04/2025 03:29

** Lotus Resources LOT.AX rises as much as 4.3% to A$0.183, highest since March 26

** Uranium miner signs two agreements with Electricity Supply Corporation of Malawi to facilitate electricity supply from the grid to the Kayelekera Project in northern Malawi

** Says grid connection will be commissioned in 2026

** Signs contract to sell and buy natural uranium concentrates with U.S.-headquartered PSEG Nuclear

** LOT falls 55.7% YTD

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))