By Collins Mtika
Malawi’s mining sector has taken a significant step forward with Lotus Resources Limited finalizing a uranium supply agreement with PSEG Nuclear LLC, a prominent North American energy firm.
The contract, covering 800,000 pounds of uranium from 2026 to 2029, marks an important milestone in the revival of operations at the Kayelekera Uranium Mine in Karonga.
This agreement further cements Malawi’s role in the global uranium market, adding to previous supply deals. In total, Lotus has now secured commitments for between 2.3 million and 2.6 million pounds of uranium, scheduled for delivery between 2026 and 2032.
With global demand for uranium surging due to a shift toward cleaner energy, Malawi is positioning itself as an emerging player in the industry.
Kayelekera’s anticipated restart in the third quarter of 2025 represents a turning point for both the country’s mining sector and broader economy. The mine, which was shuttered in 2014 due to depressed uranium prices, is now poised for a comeback as the market rebounds.
Lotus Managing Director Greg Bittar expressed confidence in the project, emphasizing that the agreement underscores investor trust and the company’s long-term strategy.
“Each sales contract strengthens our financial position and confirms the confidence global energy players have in the Kayelekera project. With our strong capital reserves and strategic agreements, we are well on track to making Kayelekera a success story once again,” Bittar stated.
Reopening Kayelekera is expected to inject vital foreign exchange into Malawi’s economy while generating employment, supporting local suppliers, and attracting further investment into the mining sector.
As Lotus continues discussions with additional North American utilities, the future of uranium mining in Malawi appears increasingly promising.
With production set to resume in just a few months, all eyes are on Kayelekera. If momentum continues, the mine could reestablish itself as one of Africa’s leading uranium producers, solidifying Malawi’s position on the global mining map.