Globe Metals & Mining secures further legal clearance in Malawi
- Globe Metals & Mining secured full legal clearance for its Kanyika Niobium Project after local community members formally withdrew long-running court proceedings.
- Following the announcement, the Globe Metals & Mining share price was unchanged at $0.067.
- The resolution clears a legal hurdle, allowing the company to focus on completing its compensation and resettlement programme for development.
Globe Metals & Mining (ASX:GBE) secured full legal clearance to progress its Kanyika Niobium Project after local claimants formally withdrew their long-running court proceedings.
The legal resolution ends a prolonged dispute filed in the High Court of Malawi against Globe Metals & Mining (Africa) Limited and the Attorney General of Malawi.
"The withdrawal and discontinuance of these proceedings is a very positive development for the Kanyika Project. It brings a longstanding legal matter to an end and provides greater certainty for the Project to continue progressing towards development," said Globe Metals & Mining Interim CEO & CFO Charles Altshuler.
The claimants filed a Notice of Withdrawal and Discontinuance pursuant to the High Court rules, dropping all outstanding claims against both defendants.
Following the announcement the Globe Metals & Mining share price was unchanged at $0.067.
The company stated that its current operational focus shifts towards completing the local compensation and resettlement programme to access planned mining areas.
Globe Metals & Mining continues to advance the Kanyika project towards production as it works to secure necessary land access.
