Australia's Lotus Resources jumps on commissioning Malawi uranium mine

Lotus Resources

17/06/2025 03:13

** Shares of Lotus Resources rise 8.65% to A$0.19, its highest level since June 10

** Uranium explorer begins "commissioning" process, which brings a mine to its production stage, to restart its Kayelekera project in Malawi

** Kayelekera was shut in 2014 due to sustained low uranium prices

** Between 2009 and 2014, the mine produced 11 mln pounds of yellowcake, a mixture of uranium oxides

** Co reaffirms uranium production in early Q3 of 2025

** Stock down 5% YTD, including the day's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))