Globe looking for clarity at Kanyika

The ASX-listed company on Tuesday noted that under the Mines Act, the project’s mining license was due to be awarded on July 19, however, as of yet no license has been forthcoming.

The company told shareholders that it was unaware of any reason to the delay in the grant of the mining license, and has now requested a formal meeting with the Minister of Mines to seek clarification on matters pertaining to the application of procedures in the Mines Act.

“The President of Malawi has been very clear in his desire to see the Malawi mining industry become a major pillar of industrial development in Malawi, and a key contributor in terms of employment, training and revenue,” said Globe MD Alistair Stephens.

“Grant of the Kenyika mining license is important to Globe and its stakeholders, but equally so for the Malawi government and the people of Malawi. Further delay in grant of the Kanyika mining license would be disappointing on many fronts.”

The mining and processing operations at Kenyika would require a capital investment of some $150-million, while the current estimate at the refinery has been placed at between $30-million to $50-million, depending on the ultimate location of the refinery.

The mining operation is expected to produce 1.5-million tonnes of ore a year to feed to the process plant, with the project expected to produce some 3 250 t/y of niobium products and 120 t/y of tantalum products.