{"id":8928,"date":"2021-11-04T15:20:31","date_gmt":"2021-11-04T15:20:31","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-nicknamed-banter-country-over-uranium-site-sold-at-k25-million"},"modified":"2021-11-05T16:10:29","modified_gmt":"2021-11-05T16:10:29","slug":"malawi-nicknamed-banter-country-over-uranium-site-sold-at-k25-million","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-nicknamed-banter-country-over-uranium-site-sold-at-k25-million","title":{"rendered":"Malawi nicknamed banter country over Uranium site sold at K25 million"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>Malawians have expressed shock that a uranium site in Malawi has been sold for K21 million to an Australian Company. Lotus paid just US$25,000 dollars to acquire the site from a Malawian entity which previously owned the site.<\/p>\n

Some Malawians have described Malawi as a banter country following news of the acquisition. Banter country https:\/\/t.co\/VMSoQE7mEk \u2014 Benard (@Benard_Kalua) November 3, 2021<\/p>\n

Anakangowonjezela ikwane 30 mita atenge Malawi yonse. https:\/\/t.co\/5ES2bimYv4 \u2014 Solo. (@Pilgrim265) November 3, 2021 Osangogulitsa Malawi yense bwa? https:\/\/t.co\/q3IGOhqKrs<\/p>\n

\u2014 Enjoyment Banda (@Shem_Stunna) November 3, 2021 Uranium site same price as a house in zingwangwa https:\/\/t.co\/AU45wCfT3o<\/p>\n

\u2014 The Ghost & The Demon (@Black_Isco) November 3, 2021 Ngati plot yamu 43mu??? https:\/\/t.co\/rgGPiXFW5w \u2014 Tony Stark (@Stayathomedota) November 3, 2021<\/p>\n

Livingstonia is located in northern Malawi about 90km southeast of the Kayelekera uranium mine which Lotus, the Australian company, also has stakes in.<\/p>\n

Lotus Managing Director Keith Bowes told the company\u2019s website that the deal is an extremely accretive acquisition for Lotus with and has potential to increase the company\u2019s global mineral resource by 16% for less than $0.004 \/ lb U3O8.<\/p>\n

\u201cMore importantly, we have increased our landholding at the highly prospective, yet poorly explored, Livingstonia region, to 187 km2.<\/p>\n

\u201cThere is multiple walk-up, drill-ready targets across our Livingstonia tenements, including at the boundary of the Livingstonia resource where an airborne radiometric survey indicates mineralisation continues into our existing tenements.<\/p>\n

\u201cThis area, as well as the high-grade intercepts previously reported, will be the basis of the first phase of exploration which will commence towards the end of this year. Other prospective targets, including Livingstonia North and Chilumba, will be tested in future exploration programmes.<\/p>\n

\u201cAssuming exploration success, the company will undertake ore sorting test work on the Livingstonia material in 2022 as part of the process for determining whether Livingstonia could become a future satellite operation for the company,\u201d said Bowes.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. Malawians have expressed shock that a uranium site in Malawi has been sold for K21 million to an Australian Company. Lotus paid just US$25,000 dollars to acquire the site from a Malawian entity which previously owned the site. Some Malawians have described Malawi as a banter country following news of the acquisition. […]<\/p>\n","protected":false},"author":84,"featured_media":8927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,3175,234,2398,369],"class_list":["post-8928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-kayelekera-mine","tag-malawi","tag-mining","tag-social-media"],"yoast_head":"\nMalawi nicknamed banter country over Uranium site sold at K25 million - Malawi<\/title>\n<meta name=\"description\" content=\"Malawians have expressed shock that a uranium site in Malawi has been sold for K21 million to an Australian Company. 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