Join our daily newsletter At The Bell to receive exclusive market insights
- Globe Metals & Mining (GBE) progresses the finalisation of its mining development agreement (MDA) with the Malawi Ministry of Mining for the Kanyika niobium project
- GBE was told that the negotiations and attendant review of the draft MDA have been completed, following a recommendation for approval made by the government’s MDA Steering Committee
- The company cautioned that the process is not yet complete, and that approval and signing is subject to Ministers of Mining and Finance discretion
- Shares in Globe are up 15.7 per cent, trading at 9.6 cents at 2:02 pm AEST
Globe Metals & Mining (GBE) has progressed the finalisation of its mining development agreement (MDA) with the Malawi Ministry of Mining for the Kanyika niobium project.
The company received communication advising that the negotiations and attendant review of the draft Kanyika Niobium Project MDA have been completed, following a recommendation for approval made by the government’s MDA Steering Committee.
“It is highly pleasing that real progress towards finalisation and execution of the MDA is being made by the Malawi Government,” CEO Grant Hudson said.
“The conclusion of the MDA is a critical step forward towards production as it provides Globe and its potential partners, financiers and customers with clarity and surety around tenure, developmental timelines and the fiscal regime pertaining to the Kanyika Niobium
Project.”
The company cautioned that the process is not yet complete, and that approval and signing is subject to Ministers of Mining and Finance discretion.
Shares in Globe were up 15.7 per cent, trading at 9.6 cents at 2:02 pm AEST.
