Highlights
▪ Globe Metals & Mining signs a non-binding MOU on an offtake agreement with NEO Performance Materials Inc. (TSX:NEO) ("Neo")
• The MOU gives Neo the right to purchase 150 metric tonnes per annum of Niobium Pentoxide from the Kanyika Project's Phase 1 production.
• Up to 100% of both niobium and tantalum Phase 1 production of the Kanyika Project is now under non-binding offtake MOU or letter of intent.
• It is anticipated that the agreement will be renewed annually.
• Development of the Kanyika Project positions Globe Metals & Mining as a key and reliable supplier of in-demand Niobium Oxide to specialised industries based in Europe and North America.
• Neo also has a limited right of first refusal to purchase other critical metals, such as Tantalum and Zirconium, produced at Kanyika, further demonstrating the strong demand for the Project's output.
• Neo manufactures critical industrial materials for modern technologies, supporting efficiency, sustainability, and the net-zero transition, with global operations and R&D facilities.
Read the full announcement here
About us:
Globe Metals and Mining is an African-focused resources company with its Kanyika Niobium Project in Malawi. The Kanyika Niobium Project will produce niobium and tantalum products, which are key additives in high strength-low alloy (HSLA) steels and electronics. A JORC Mineral Resource Estimate indicates Kanyika could support a 20 year mine life.
Globe's corporate head office in Perth, Australia is supported by regional operational offices in Lilongwe. The Company listed on the ASX in December 2005 (ASX: GBE).
