Business News

    Globe Metals & Mining (ASX:GBE) granted Malawi mining approval

    Article Image

    Globe Metals & Mining (ASX:GBE) has announced the Malawi Government has approved a mining development agreement (MDA) for Globe Metals & Mining to develop the Kanyika Niobium Project in central Malawi.

    The company says it's the first to execute an MDA with the Malawi Government since the enactment of the Mines and Minerals Act, 2018. 

    It also says all relevant approvals are now in place, providing confidence to third parties looking to participate in the project, in terms of financing and offtake.

    Globe says it plans to spend a minimum US$200M to develop the project and is required to make a decision to mine within the next two years.

     

     

     

    Disclaimer

    Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

    Publisher
    Grafa