Globe Metals begins construction at Kanyika Niobium Project in Malawi

Core Insights - Globe Metals & Mining has commenced construction at the Kanyika Niobium Project in Malawi, marking a transition from feasibility and permitting to active project execution [1] - The project is fully permitted and aims to produce niobium and tantalum for advanced-materials markets [1] Project Details - The Kanyika Niobium deposit is located in the Mozambique Orogenic Belt and features four pyrochlore-bearing zones over a span of 3.5 km [2] - Initial works are underway, with a revised bankable feasibility study (BFS) expected by March 2026 and first oxide production anticipated in Q1 2028 [2] Compliance and Initial Works - The early works fulfill Globe's obligations under its Mining Development Agreement and Large-Scale Mining Licence, which require significant development activities within set timelines [3] - Initial construction activities include establishing a camp, earthworks, drainage, fencing, road upgrades, site security, stormwater controls, and water systems [3] Financial Arrangement - Globe will reimburse Sinomine for verified direct costs related to the agreed work scope and will pay a fixed monthly management fee of $20,000 (A$28,317) [4] - There are no additional fees or equity considerations, and Globe retains full ownership and control over the project [4] Project Management Framework - Under the Early Contractor Involvement framework, Sinomine will provide experienced personnel to support project refinement and risk mitigation prior to the final investment decision [4] - This includes cost validation and supplier pricing to optimize capital and operating costs, enhancing supply chain visibility and procurement efficiency [5] Strategic Transition - The commencement of early works signifies the culmination of years of technical research, permitting, and community engagement, leading to tangible progress on-site [6] - The agreement with Sinomine enables methodical pre-development, validating construction and operational cost inputs for the BFS while maintaining full ownership and control [6]