Globe Metals & Mining Secures Key Offtake Agreement for Kanyika Niobium Project

Key Highlights

• Offtake Agreement with Myst Trading: Globe Metals & Mining (ASX: GBE) has signed a non-binding MOU with Myst Trading Pte Ltd for the purchase of 100% of Phase 1 Tantalum Pentoxide production and 25% of Phase 1 Niobium Pentoxide production.
• Strengthening Project Viability: This agreement secures 57% of Phase 1 Niobium Pentoxide production under offtake deals, enhancing funding and development prospects for the Kanyika Niobium Project.
• 3-Year Offtake Term: The agreement will run for an initial three-year term from first production, with pricing linked to prevailing Asian metals market rates.
• Path to Binding Agreement: Globe and Myst aim to finalize a binding offtake agreement by Q2 2025, with full execution expected by September 1, 2025.
• Accelerating Project Milestones: The agreements will support updated feasibility studies and financing, bringing the Kanyika Niobium Project closer to production.

Globe Metals & Mining Advances Kanyika Niobium Project with Major Offtake Deal

Globe Metals & Mining (ASX: GBE) has taken a significant step forward in securing commercial pathways for its Kanyika Niobium Project in Malawi. The company has signed a non-binding memorandum of understanding (MOU) with Myst Trading Pte Ltd, a global metals trader, for the offtake of high-purity Tantalum Pentoxide and Niobium Pentoxide from the project’s Phase 1 production.

This agreement builds upon Globe’s previously announced Niobium offtake deal with Affilips N.V., ensuring that 57% of Kanyika’s Phase 1 Niobium output and 100% of its Tantalum production are now covered under offtake agreements.

According to Paul Smith, CEO of Globe Metals & Mining, this milestone reinforces the Kanyika Project’s commercial viability, enhances its funding attractiveness, and accelerates its development timeline.

“The MOU with Myst confirms our significant progress in finalizing offtake agreements for all Phase 1 production at the Kanyika Project. These agreements are a critical component of the project’s funding and ultimate development,” said Smith.

Key Terms of the Myst Offtake Agreement

• Tantalum Pentoxide Offtake: Myst Trading will have the right to purchase 100% of the estimated 14 tonnes of annual high-purity Tantalum Pentoxide production.

• Niobium Pentoxide Offtake: Myst will hold a right of first refusal for 25% (approximately 76 tonnes) of the annual Niobium Pentoxide production.

• Contract Duration: The agreement will run for an initial three-year term, beginning from the first production of Phase 1.

• Market-Based Pricing: Pricing will be linked to prevailing Asian market rates for these strategic metals.

With the final binding agreement expected to be executed by Q2 2025, Globe Metals & Mining is positioning itself to secure financing and accelerate project milestones in the coming months.

Why This Deal is a Game-Changer for Globe Metals & Mining

The Kanyika Niobium Project is a strategic, high-value asset that positions Globe as a key supplier of niobium and tantalum—two critical metals in high-tech industries, aerospace, and electric vehicles.

1. Securing Buyers for Kanyika’s Output

The agreement ensures that over half of the project’s Phase 1 Niobium production and all of its Tantalum output will have committed buyers, de-risking production and revenue.

2. Strengthening Funding Prospects

With offtake agreements in place, Globe is in a stronger position to secure funding, advance feasibility studies, and attract institutional investors.

3. Entry into the Lucrative Asian Metals Market

Myst Trading specializes in battery materials and base metals supply chains, providing Globe with direct access to Asian markets where demand for high-purity niobium and tantalum continues to rise.

About Myst Trading Pte Ltd

Founded in 2017, Myst Trading Pte Ltd is a Singapore-based global metals trader, focusing on battery materials, base metals, and high-value concentrates. The company provides offtake and supply chain solutions, structured financing, and risk management services for its clients across lithium, tin, niobium, tantalum, and recycled materials.

With expertise in hedging and commodity risk management, Myst’s partnership with Globe enhances the credibility and marketability of Kanyika’s production.

Kanyika Niobium Project: A High-Value Critical Metals Asset

Located in central Malawi, the Kanyika Niobium Project is a large-scale niobium, tantalum, and zirconium deposit. Secured under Mining Licence No. LML0216/21, the project has a JORC-compliant Mineral Resource Estimate, confirming its high-grade potential.

Development Phases

• Phase 1: Focuses on mining, refining, and production of high-purity Niobium and Tantalum oxides, ensuring a low-risk development strategy.
• Phase 2: Expansion into larger-scale refining for direct export to Western and Asian markets.

With a total resource estimate of 68.3 Mt at 2,830 ppm Nb₂O₅ and 135 ppm Ta₂O₅, Kanyika is set to become a key supplier of high-purity niobium and tantalum for advanced industrial applications.

What’s Next for Globe Metals & Mining?

Upcoming Milestones

• Q2 2025: Finalization of binding offtake agreement with Myst Trading.
• Q3 2025: Completion of the updated feasibility study and funding commitments.
• Q4 2025: Start of Phase 1 production at the Kanyika Niobium Project.

With the foundation for offtake agreements firmly in place, Globe is now focusing on securing the remaining funding, optimizing feasibility studies, and progressing towards production.

Investors and stakeholders can expect further updates in the coming months as Globe moves closer to unlocking the full value of the Kanyika Niobium Project.

Final Thoughts

Globe Metals & Mining’s latest offtake agreement with Myst Trading marks a major milestone in the commercialization of the Kanyika Niobium Project. With 57% of Phase 1 Niobium production and 100% of Tantalum output now covered under agreements, the company is well-positioned for funding, feasibility finalization, and production launch.

As demand for high-purity niobium and tantalum continues to rise, Globe is strategically advancing one of the most promising niobium projects in Africa.