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Highlights
- Globe Metals & Mining (GBE) signs a non-binding agreement for niobium and tantalum supply.
- Myst Trading gains purchasing rights for a significant portion of Phase 1 production.
- The deal strengthens Globe’s market reach in Asia and supports project funding.
Globe Metals & Mining (ASX:GBE) has secured another crucial step in the development of its Kanyika Project in Malawi by signing a non-binding memorandum of understanding (MOU) with Myst Trading Pte Ltd. The agreement outlines the supply of high-purity niobium pentoxide and tantalum pentoxide, reinforcing the project’s role as a key supplier of these critical minerals.
Myst, a Singapore-based global metals and concentrates trading company, will hold purchasing rights for 100% of the estimated 14 metric tonnes of tantalum pentoxide produced annually during Phase 1. Additionally, Myst will have the right of first refusal for 25% of the estimated 76 metric tonnes of niobium pentoxide production. This agreement will initially be in place for three years from the commencement of production.
Strategic Expansion into Asian Markets
This latest agreement marks a significant milestone, with Globe (GBE) now securing non-binding offtake agreements covering 57% of its expected Phase 1 niobium pentoxide output and the entire tantalum pentoxide production. The company’s engagement with Myst opens the door to the highly lucrative Asian markets, further strengthening its position in the global supply chain for critical minerals used in high-tech and industrial applications.
Globe previously signed a non-binding agreement with Affilips N.V. for niobium offtake, and this latest partnership with Myst enhances the company’s overall commercial strategy. These agreements are instrumental in supporting the project's funding and development, positioning it for long-term success.
Path to a Binding Offtake Agreement
The MOU sets the foundation for a fully binding offtake agreement, expected to be finalized by Q2 2025, with a full-scale agreement anticipated by September 1, 2025. The pricing structure will align with prevailing Asian metals market rates, ensuring competitive value for both parties.
As part of its broader strategy, Globe (GBE) continues to advance its bankable feasibility study and associated funding commitments. The company expects to announce key project milestones in the coming months, further paving the way for the development of the Kanyika Project.
Myst Trading’s Role in the Metals Market
Founded in 2017, Myst has evolved from an asset management firm into a major player in the physical commodity sector. With a focus on battery materials and base metals, the company offers supply solutions with flexible payment, financing, and pricing structures. Myst also provides hedging support and structured pricing to assist clients in managing financial risk.
By securing agreements with established global traders like Myst, Globe continues to strengthen its market position, ensuring a stable pathway toward commercial production and long-term growth in the global niobium and tantalum sectors.
