Globe Metals & Mining Limited has removed a longstanding legal hurdle at its Kanyika Niobium Project in Malawi after claimants formally withdrew and discontinued proceedings in the High Court.

The discontinued action eliminates a contingent liability previously valued in the company's 2025 Annual Report at approximately MWK700 million to MWK800 million, equivalent at the time to about A$603,000 to A$690,000. Initiated in August 2017 by 243 members of the Kanyika community, the lawsuit challenged historical exploration activities and preparatory work undertaken by Globe Metals & Mining (Africa) Limited and the Attorney General of Malawi.

The legal clearance arrives as the company advances the asset following an updated Bankable Feasibility Study completed in March 2026. That study outlined a post-tax net present value of US$1,025 million and a 24-year mine life, with first production of niobium oxide targeted for early 2028.

The resolution grants the company clearer access to use the land required for mining and infrastructure development. Globe expects to pay compensation under its separate, current resettlement programme during September 2026.

"The withdrawal and discontinuance of these proceedings is a very positive development for the Kanyika Project. It brings a longstanding legal matter to an end and provides greater certainty for the Project to continue progressing towards development."

"Importantly, the withdrawal of the proceedings with the support of the affected community members demonstrates the shared desire of the local community to see the Kanyika Project progress and the benefits of its development realised."

— Charles Altshuler, Interim CEO & CFO

Work at Kanyika continues as the company focuses on completing its current land access and compensation milestones.

Read the full announcement: Globe Secures Further Legal Clearance for Kanyika Project