Globe Metals & Mining Limited (ASX: GBE) ('Globe' or 'Company') is pleased to announce that it has successfully formalised the planned extension of time for first mining activities under its Mine Development Agreement with the Government of Malawi (MDA).
This extension ensures that Globe remains in full compliance with all aspects of its mining agreements, licences, and permits, and further confirms the ongoing support from Malawi's favourable mining jurisdiction. The need for the extension had been understood and planned for as the previous timelines had become truncated after the slight delays around the finalisation of the MDA. The extension now confirms the ongoing detailed planning for the appropriate Community liaison for the first development of mining activities. It also confirms the ongoing detailed feasibility planning that Globe is undertaking
Extension approval signed by Malawi authorities On 17 September 2024, the Director General of the Mining and Minerals Regulatory Authority, S.N.D. Sakhuta, signed a letter of comfort approving the request to extend the commencement date for substantial mine development to 27 September 2025. This decision aligns with section 169(7) of the Mines and Minerals Act 2023, which makes provision for such extensions upon formal application by the licence holder, provided that good faith efforts are demonstrated.
Background As previously announced1 , the MDA is subject to and conditional upon Globe obtaining an extension to the time limits prescribed under the Act for the commencement of substantial mine development and substantial mineral production at the Company's Kanyika Niobium Project (Project) to ensure those time limits are consistent with the timeline contemplated in the MDA. As announced in mid-June 20232 , Globe was in receipt of a supportive letter from the Malawi Government Department of Mines on 29 May 2023, endorsing the ongoing efforts of Globe to acquire and mobilise resources for the Project, and assuring the continued security of the tenure for Mining Licence LML0216/21 (Mining Licence).
Globe's Chief Executive Officer, Paul Smith, commented: 'Globe Metals & Mining is extremely grateful for the proactive and supportive relationship it enjoys with the Government of Malawi. The Government's willingness to approve an extension of time for commencement of substantial mine development at our Kanyika Project is a clear-cut positive for its development. The extra time provided by the extension gives us ample time to successfully progress several significant processes critical to the Project's eventual delivery. Some of these important processes are sign-offs on funding initiatives and offtake commitments, completion of technical (design and engineering) tasks, and, last but not least, delivery of key social and environmental commitments associated with the Project.'
Contact:
Tel: +61 8 6118 7240
Email: paul.smith@globemm.com
About the Kanyika Niobium Project
The Kanyika Niobium Project is located in central Malawi, approximately 55km northeast of the regional centre of Kasangu and is secured by Large-Scale Mining Licence No. LML0216/21 which grants the Company security of tenure and the right to mine niobium, tantalum, zirconium and other minor metals. Drilling programs totalling 33.8 kilometres of percussion and core drilling have de?ined the extent of mineralisation. Structured and progressive engineering studies have resulted in the current (JORC 2012) Mineral Resource Estimate (refer below) and given rise to signi?icant improvements and simpli?ications in the process ?lowsheet
Mineral Resource Estimates
The information in this report that relates to Mineral Resources is extracted from the report titled 'Kanyika Niobium Project - Updated JORC Resource Estimate' released to the Australian Securities Exchange (ASX) on 11 July 2018 and available to view at www.globemm.com and for which Competent Persons' consents were obtained. Each CompetentPerson's consent remains in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. The Company con?irms that is not aware of any new information or data that materially affects the information included in the original ASX announcement released on 11 July 2018 and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcement continue to apply and have not materially changed. The Company con?irms that the form and context in which the Competent Persons' ?indings are presented have not been materially modi?ied from the original ASX announcement. Full details are contained in the ASX announcement released on 11 July 2018 titled 'Kanyika Niobium Project - Updated JORC Resource Estimate' available to view at www.globemm.com.
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