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Globe Metals & Mining has exclusive prospecting licence for niobium in Malawi renewed

The company’s shares have jumped 23% on news of the renewal for a further two years.
Malawi flag superimposed on a hand
The prospecting licence is next to the company’s mining lease application

Globe Metals & Mining Limited (ASX:GBE) shares jumped on news that an exclusive prospecting licence for the Kanyika Niobium Project in Malawi has been renewed.

The company is a leading ASX gainer today with shares up 23% to 1.6 cents.

Malawi’s Minister of Natural Resources, Energy and Mining has formally notified the company the EPL0421/15 has been renewed for a further two years from May 22, 2018.

Licence covers 308 square kilometres

The licence covers about 308 square kilometres and is adjacent to the company’s mining lease application.

Globe lodged this application, which covers in part the area previously covered by EPL1088/05, with the Ministry on December 5, 2014.

The application has been approved subject to the completion of a development agreement, which remains incomplete.

Assessing Kanyika options

In regards to the Kanyika project, the company continues to negotiate with regulators, stakeholders and parties to identify opportunistic development options.

Globe is considering project financing, partnership and design options.

Revised engineering studies

Work has also started on a revised engineering study to incorporate the findings and outcomes of pilot plant work undertaken and other necessary engineering design changes.

This is aimed at finalising the technical components of a feasibility study to support project funding initiatives.

The company has engaged specialists to revise and update the previous engineering study.

Use of niobium in rechargeable batteries is an exciting development for niobium and just one of many new applications that has been developed or proposed for the metal.

Globe has been investigating opportunities for participation and involvement in the electric vehicle battery industry.

This follows Toshiba’s announcement that its next-generation SCiBTM rechargeable battery will utilise niobium as a key component.

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