Curzon Uranium has agreed a binding sales agreement and unsecured loan facility with Lotus Resources, which will provide funding for Lotus’ Kayelekera restart.
As part of Curzon’s agreement with Lotus, to buy 700,000 lbs of uranium, Curzon have been given the option to buy an additional 100,000 lbs between 2030 and 2032, via a fixed-price option, subject to Lotus’ use of the loan facility. The agreement with Curzon is dependent on Lotus completing an equity raise for the restart of Kayelekera.
Together, Lotus’ two uranium offtake arrangements and unsecured loan facility, result in the sale of a minimum of 1.5 million lbs of uranium produced at Kayelekera between 2026 and 2032. The involved parties are PSEG, a subsidiary of Public Sector Enterprise Group, a diversified energy company based in Newark, New Jersey, and Curzon Uranium Ltd, a leading international uranium market participant.
