PRESIDENT CHAKWERA FIXES KAYELEKERA URANIUM MINE MESS, REOPENS FACILITY UNDER NEW INVESTOR  

His Excellency Dr Lazarus McCarthy Chakwera has officially reopened the Kayelekera Uranium Mine in Karonga, marking a major milestone in Malawi’s economic transformation agenda.

Closed since 2014 due to falling global uranium prices, the mine has now been revived under new ownership by Lotus Resources Limited of Australia, which holds an 85% stake. The Government of Malawi retains a 15% share through a Mining Development Agreement (MDA).

Speaking at the inauguration ceremony, President Chakwera hailed the reopening as a direct fruit of his administration’s ATM+M Strategy, an integrated plan to grow the economy through Agriculture, Tourism, Manufacturing, and Mining.

“This mine is not just about extracting uranium, it’s about extracting opportunities for Malawians,” the President said. “Through favourable policies, we have attracted investment, ensured that 90% of the workforce will be Malawian, and positioned Kayelekera to become one of the largest contributors to our national revenue.”

The mine is expected to employ around 600 people, with the majority of positions reserved for Malawians. Its operations will contribute more than 50% of national mining revenue through equity, taxes, royalties, and community support.

Lotus Resources has committed to paying 30% corporate tax, a 5% royalty on gross revenue, resource rent tax, and other indirect taxes as outlined in the MDA. Additionally, the company will allocate 0.45% of annual gross sales to local communities, in line with the Mines and Minerals Act (MMA 2023).

The reopening follows the recent approval of the Environmental and Social Impact Assessment (ESIA) Certificate by the Malawi Environment Protection Authority (MEPA), paving the way for mining operations to resume.

President Chakwera emphasized that the mine’s revival is a symbol of Malawi’s readiness to harness its natural resources responsibly and sustainably, ensuring that economic gains translate into tangible improvements in the lives of citizens.