At a Glance
- Globe Metals delays Africa’s first large-scale niobium mine as financing remains unresolved.
- Kanyika project requires $250 million investment, targeting niobium and tantalum output over 23 years.
- Malawi gains equity, royalties and community funding once Kanyika mine reaches production.
Globe Metals & Mining has delayed production at Malawi’s Kanyika project, Africa’s first large-scale niobium mine, pushing its expected launch to 2028 as financing and pre-construction hurdles persist.
The Australian miner confirmed in a December 19 update that construction has yet to begin at the $250 million project in northern Malawi, marking more than a year of delays since the company first deferred an earlier 2026 production target.
Why the Kanyika niobium project matters
Kanyika is designed to produce 73,250 tons of niobium pentoxide and 3,240 tons of tantalum pentoxide over a 23-year mine life, with projected revenues of $5.6 billion.
Despite its scale, Globe Metals has struggled to secure full project financing and finalize critical pre-construction milestones.
Malawian authorities granted the company a one-year extension in September 2024 to allow progress on financing, offtake agreements and early works planning. A further 12-month extension was approved in September 2025, despite limited advancement on these fronts.
What is delaying Globe Metals’ Malawi mine
Globe Metals said it plans to complete an updated feasibility study by March 2026, a prerequisite for a final investment decision.
Key priorities include Phase One relocations, early works mobilization, long-lead procurement and global strategic roadshows aimed at attracting investors and strategic partners.
The project carries strategic importance for the global niobium market, which is dominated by Brazil, accounting for about 90 percent of global supply, according to the U.S. Geological Survey.
Demand for niobium, used in high-strength steel, electronics, defense systems and electric vehicles—is projected to grow at a compound annual rate of 8.7 percent through 2031.
Malawi’s economic stake in the project
For Malawi, Kanyika represents a potential long-term revenue source. The government will hold a free 10 percent equity stake, receive a 5 percent revenue royalty and benefit from a community development agreement allocating 0.45 percent of annual revenues to local communities.
Several potential buyers, including Affilips, Myst Trading Pte and NEO Performance Materials, have already signed memorandums of understanding, signaling market interest once the mine becomes operational.
If Globe Metals meets its revised milestones, Kanyika could position Malawi as a meaningful alternative supplier in the global niobium market and broaden the country’s mining revenue base.
