The Mines and Minerals Authority has approved the amendment of Globe Metals and Mining licence for Kanyika Niobium Project in Mzimba District to allow the inclusion of zircon, hafnium, praesidium and neodymium to its production line.
The authority’s director general Samuel Sakhuta confirmed the amendment of the licence, saying this was meant to highlight all types of rare earths that the company will be able to produce at Kanyika Niobium Mine.
of rare earths. | Nation
“It was important for the company to have the details of these minerals to easily enable potential funders and stakeholders to have a clear understanding of the specific type of rare earths elements found at Kanyika,” he said.
In an update posted on its website www.globemm.com, Globe Metals and Mining, which already has a mining development agreement (MDA) with Malawi Government, said the inclusion of the other mineral elements will expand its commodity mix without additional capital.
Reads the update in part: “The Mines and Minerals Regulatory Authority approved the amendment of large scale mining licence for Kanyika project in Malawi. The amendment allows the inclusion of zircon, hafnium and neodymium.
“This approval expands the scope of Globe Metals and Mining licence for Kanyika project on top of its initial targeted minerals of niobium, tantalum and uranium.”
The approval expands the scope of Globe Metal’s licence, enabling it to evaluate, develop and produce a broader suite of critical minerals from the Kanyika deposits, according to the company’s update.
In a separate interview on Wednesday, geologist and mining consultant Ignatius Kamwanje said the development could help ease funding for the project’s bankable feasibility study.
“I believe this makes the project more attractive to investors and could enable it to unlock funding easily,” he said.
Kanyika Niobium Mine has the potential to become the first new globally significant niobium mine in 50 years, with an average production of 3 267 metric tonnes (MT) per year of niobium pentoxide and 136MT per year of tantalum pentoxide over a 27-year mine lifespan.
Globe Metals said since zircon is recovered as a by-product of niobium and tantalum processing, it will provide an additional steady revenue stream without significant additional capital expenditure.
Zircon is widely used in ceramics foundries and advanced refractories and enjoys a steady global demand and its resilient pricing is supported by construction and industrial applications.
Hafnium, on the other hand, is an ultra-rare metal critical for aerospace alloys, jet engines and nuclear control rods and it commands a premium price due to its unique properties in high temperature super alloys.
Apart from Globe Metals, the government has MDA s with Lotus Resources Limited, which owns Kayelekera Uranium Mine in Karonga and Mkango Resources, which operates the Songwe Hill Rare Earth Mine Project in Phalombe District.
