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Globe Metals puts Kanyika Niobium Project stakes on sale
August 20, 2026 / Jacqueline MONJEZA
Globe Metals puts Kanyika Niobium Project stakes on sale
By Jacqueline MONJEZA
ASX-listed Globe Metals & Mining says it is in early stage discussions with several parties over the future of the Kanyika Niobium Project in northern Malawi. The discussions include possible joint ventures, investment, funding, offtake agreements and project development opportunities.
Interim CEO Charles Altshuler says in a statement part of those discussions include confidential and incomplete negotiations with Sinomine (Hong Kong) Rare Metals Resources Co., Limited (“Sinomine”), a subsidiary of Sinomine Resource Group Co., Ltd, a Shenzhen Stock Exchange (SZSE:002738) listed global mining and resource development group.
The negotiations are with respect to a potential transaction involving the acquisition of 100% of the shares in Globe’s UK subsidiary through which its interest in the Kanyika Project is held.
Sinomine specializes in copper, lithium and strategic minerals, with operations and project experience across Africa, Asia, Europe and North America. As of March 31 2026, Sinomine has net assets of approximately US$1.88 billion, revenues of approximately US$1 billion in 2025 and net profits of approximately US$68 million. The group supplies leading participants in the global battery and electric vehicle supply chain.
Globe has stressed that no binding agreement has been reached. Any final transaction would also require shareholder approval, while there is no certainty that the proposed deal will ultimately be concluded.
Globe also says it continues to advance the Kanyika Project in the ordinary course while negotiations continue. The company is also reviewing other potential mining and mineral projects, although it has not yet decided to proceed with any particular opportunity.
“Globe continues to progress the Kanyika Project in the ordinary course while the above negotiations and discussions continue,” Altshuler says.
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Rehabilitation:
The establishment of a stable and self-sustaining ecosystem, but not necessarily the one that existed before mining began. In many cases, complete restoration may be impossible, but successful remediation, reclamation, and rehabilitation can result in the timely establishment of a functional ecosystem.
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Remediation:
The cleanup of the contaminated area to safe levels by removing or isolating contaminants. At mine sites, remediation often consists of isolating contaminated material in pre-existing tailings storage facilities, capping tailings and waste rock stockpiles with clean topsoil, and collecting and treating any contaminated mine water if necessary.
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