Kanyika gets a licence to operate
PERTH (miningweekly.com) – ASX-listed Globe Metals & Mining has been granted a large-scale mining licence for its $250-million Kanyika niobium project, in Malawi.
Over its 23-year mine life, Kanyika is expected to produce some 260 000 t of niobium and tantalum concentrate, at around 11 300 t/y. The concentrate will be transported to a refinery for processing into a marketable product, where high purity and high quality niobium and tantalum products would be produced to customer specification.
The Kanyika mine site is expected to require a capital investment of $200-million over a 24-month development period, with the refinery requiring a capital investment of $50-million.
A feasibility study estimated that the project would generate revenues of some $5.6-billion over its mine life, have a net present value of $1-billion and an internal rate of some 50%, with a pay-back period of 1.5 years.
“This is a momentous achievement for the Republic of Malawi and its people, the Kanyika community, the company and the Kanyika project. The grant ushers in a new era for the Malawi mining industry with the first ever award of a large-scale mining licence under the new Mines Act,” said Globe MD Alistair Stephens on the grant of the mining licence.
“Work does not stop with the grant of the mining licence. In fact, the real work starts now. We expect that the Malawi government will soon execute our development agreement, and then our focus will shift to offtake and financing.
“The Kanyika niobium project will be an important project, using state-of-the-art technology for a state-of-the-art metal.”
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation