Highlights

  • Early ore excavation has begun at Kanyika in progressive 5,000-tonne batches across shallow pits, aimed at grade verification, stockpiling and non-ore civil works material.
  • The substantial mining deadline of 27 September 2026 passed; the regulator has proposed a six-month extension but this still requires ratification by the MMRA board.
  • Cash at 30 September is A$3.52 million with approximately 1.1 quarters of estimated funding; a working capital facility from director Bo Tan is fully drawn at US$1.6 million.
  • Sinomine discussions are continuing but no binding investment agreement has been reached; offtake discussions are also ongoing.

Mining has begun at Kanyika — modestly, and conditionally. Globe Metals & Mining (ASX:GBE) confirmed on 23 October 2026 that excavation of ore had started at its Kanyika niobium-tantalum project in Malawi, using a progressive batch approach. The announcement arrived alongside a September quarterly report that shows tight funding and a regulatory timeline not yet resolved.

How the Early Mining Works

Material is being excavated in batches of approximately 5,000 tonnes across a series of shallow pits in the main orebody. Each mining area is roughly 50 metres long, 16 metres wide and 2.5 metres deep, accessed by a 40-metre ramp, with ore hauled approximately 600 metres to the stockpile area. Local contractor OG Plant Hire is carrying out the work under Globe's supervision. The three stated objectives are grade verification to improve confidence in the 2018 mineral resource, building a niobium-bearing stockpile for future processing plant commissioning, and extracting non-ore material for plant terraces, foundations and roads.

The company estimates average grades of approximately 0.45% Nb2O5 and 0.015% Ta2O5, subject to verification. Material so far is mostly fine-grained and unconsolidated. The mineral resource from July 2018 stands at 68.3 million tonnes at 2,830 ppm Nb2O5 and 135 ppm Ta2O5 at a 1,500 ppm cut-off, and 22.8 million tonnes at 4,220 ppm Nb2O5 and 190 ppm Ta2O5 at 3,000 ppm.

The Regulatory Deadline

The quarterly report explains why timing matters. The project's mining licence required commencement of substantial mining operations by 27 September 2026. That date has passed. The director general of the Mining and Minerals Regulatory Authority has proposed a six-month extension that still requires ratification by the MMRA board. Under the proposed extension, Globe would be required to build permanent infrastructure including a processing plant, tailings storage facility, site offices and run-of-mine pad — commitments that the company says may require significant additional funding and that it will not make until development parameters are confirmed.

Cash and Funding Position

Cash was A$3.52 million at 30 September, with quarterly operating and evaluation outflows of approximately A$3.06 million — equivalent to approximately 1.1 quarters of runway. A working capital facility from director Bo Tan was increased to US$1.6 million at 16.5% interest, repayable by 30 June 2027, and is fully drawn. Discussions with Sinomine Resource Group about a strategic investment are continuing, but no binding agreement has been reached. Offtake discussions are also ongoing without a disclosed agreement. A FID previously targeted for the September quarter has not been taken, and first production remains targeted for early 2028.