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Lotus Resources has raised A$76 million ($53 million) through a share placement to support its uranium projects in southern Africa. The funding will advance the Kayelekera uranium mine in Malawi, which is projected to produce 2.4 million pounds of uranium annually over a 10-year mine life, with first shipment expected in Q2 2026.

The Letlhakane project in Botswana is also in development, with potential annual production of 3 million pounds over a decade. Both projects are positioned to benefit from an anticipated increase in uranium prices due to growing investment in nuclear power.