Customers keen on Kanyika niobium

Kristie Batten
MiningNews.Net

GLOBE Metals & Mining has signed a third memorandum of understanding for the supply of niobium from its Kanyika project in Malawi.

The MoU covers a further 500 tonnes per annum of niobium oxide production – equating to 350t of niobium metal. The company said the identity of the customer is considered 'highly commercially sensitive' and is therefore confidential. Globe has now signed customer supply MoUs for 45% or 1360tpa of annual niobium production.

The company said the amount of interest in Kanyika niobium may lead to the company slightly increasing the planned annual production of 3000t. An updated resource for Kanyika is due at the end of this quarter. Kanyika has a current resource estimate of 55.3 million tonnes at 3000 parts per million niobium. Globe shares closed half a cent up to A22.5c.