Globe gets breathing room at Kanyika
PERTH (miningweekly.com) – Junior Globe Metals & Mining has been given a slight reprieve in the timeline to develop its Kanyika niobium project, in Malawi.
The company on Wednesday told shareholders that the Malawian Commissioner of Mines and Minerals had provided the company with a letter stating that mine development at Kanyika would need to commence within 18 months from the signing of the Mining Development Agreement (MDA), which was down at the end of March this year, with substantial commercial mineral production expected within 60 months from the signing of the MDA.
Globe had previously applied to have this timeline extended from the date when the mining licence was registered.
Globe CEO Grant Hudson on Wednesday welcomed the update acknowledging the security of tenure of the mining licence, and recognising the commitment to the project and progress to date.
“This is a key milestone in satisfying one of the conditions of the MDA within our previously stated timelines,” he told shareholders.
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