Globe Metals & Mining (ASX:GBE) Commences Mining at Kanyika Niobium Project

Aditi Sarkar

28 October 2026 05:03 PM AEDT

Globe Metals & Mining (ASX:GBE) Commences Mining at Kanyika Niobium Project

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Highlights

Mining commenced at the Kanyika Niobium and Tantalum Project in October 2026.
Compensation was paid to all 203 Project Affected Persons under Phase 1.
Long-running legal proceedings from 2017 were formally discontinued.
First production is targeted for early 2028, with cash of A$3.52 million at quarter end.

Globe Metals & Mining Limited (ASX:GBE) has released its quarterly activities report for the September 2026 quarter. The company reported progress on site development, community compensation and the removal of a legal overhang at its Kanyika Niobium and Tantalum Project in Malawi, with mining starting in October.

Mine Development at Kanyika

About 7.2km of roads were upgraded, including a 5.8km main access road. An ore stockpile area of about 6,500m² and two waste mining areas totalling about 30,000m² were prepared, and the exploration camp was upgraded.

Mining commenced in October 2026. Early mining uses batches of about 5,000 tonnes for bulk sampling and grade verification, carried out by local contractor OG Plant Hire. First production is targeted for early 2028.

Community Compensation and Legal Resolution

Compensation was paid to all 203 Project Affected Persons between 21 and 23 September 2026, under a Phase 1 budget of about A$2.5 million. Households have a three-month relocation period.

Legal proceedings filed in August 2017 by 243 community members against the company's Malawi subsidiary and the Attorney General of Malawi were formally discontinued.

Funding and Regulatory Position

Globe received A$1.59 million from option exercises by Green Energy, and the working capital facility from director Bo Tan was increased to US$1.6 million at 16.5% interest, repayable by 30 June 2027. Cash at quarter end was A$3.52 million, with an estimated funding runway of 1.1 quarters.

A six-month extension to the Mining Development Agreement deadline is subject to ratification by the Malawi regulator and may require significant additional funding. A Final Investment Decision has not yet been reached, and talks with Sinomine on a potential strategic investment are continuing. Tantalum concentrate prices are at multi-decade highs.

Key Takeaways

Mining has started at Kanyika, marking a key development milestone.
Completing Phase 1 compensation and resolving legal proceedings reduce community risk.
Funding remains tight, with FID and strategic investment still pending.
Strong tantalum prices support the project's market outlook.

FAQs

Q: When did mining start at Kanyika?

A: In October 2026.

Q: How many people received compensation?

A: All 203 Project Affected Persons.

Q: When is first production targeted?

A: Early 2028.

Q: What is Globe's cash position?

A: A$3.52 million at 30 September 2026.

Q: Has a Final Investment Decision been made?

A: No, FID has not yet been reached.

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