Globe Metals & Mining Ltd (ASX:GBE) has received a large-scale Mining Licence for the Kanyika Niobium Project in Malawi.
In line with the Malawi Mines and Minerals Act, a copy of the Large-Scale Mining Licence No. LML0216/21 was signed by the country’s Minister for Mines Rashid Abdul Gaffar.
The Kanyika Niobium Project will produce niobium and tantalum products, which are key additives in high strength low alloy (HSLA) steels and electronics.
A JORC mineral resource estimate indicates that Kanyika could support a 20-year mine life.
"Momentous achievement"
Globe managing director Alistair Stephens said: “This is a momentous achievement for the Republic of Malawi and its people, the Kanyika community, the company and the Kanyika Project.
“The grant ushers in a new era for the Malawi mining industry with the first-ever award of a large-scale mining licence under the new Mines Act.
“It also ushers in a new era for niobium, with Kanyika set to become the first new niobium mine in more than 50 years, subject to financing, off-take and construction.”
“On behalf of the board and management of Globe, we would like to thank the Malawi Government, present and past, who we have worked closely with over many years to achieve this outcome.
“Each should be rightfully proud of the roles that they have played to achieve this result.”
Important project for locality
The Kanyika Niobium Project will utilise state-of-the-art technology to extract the metal.
The company claims that the project will employ and train thousands of local staff over its life, and will also be instrumental in improving the lives of Kanyika community through its community programs, which will also contribute to overall development for Malawi.
Globe believes that the project is very important for the development of the local community and is about to initiate real conversations about the development and initiatives that can be implemented through its social responsibility programs.