Globe Metals & Mining has appointed a full time Africa-based CEO to develop its Kanyika Project in Malawi, promoting Grant Hudson from General Manager - Corporate Services to run the aspiring niobium and tantalum miner.
Long serving Managing Director Alistair Stephens will become a senior adviser to the Board and Executive Management Team that Globe said would allow for a smooth transfer of responsibilities.
Management said since joining Globe in 2013, Mr Stephens has led a strong senior executive team and together they have successfully and significantly lowered the projected OPEX and CAPEX and improved metallurgical recoveries at the Kanyika Project. Globe was the first company to be awarded a mining licence under the new 2021 Mines Act of Malawi.
The Kanyika Niobium Project in Malawi is aiming to produce high purity niobium pentoxide and tantalum pentoxide powders from a JORC compliant total resource of 68.3 million tonnes using a cut-off grade of 1,500 parts per million niobium pentoxide.
A bullish feasibility study in 2021 on the proposed Kanyika project in south-eastern Africa suggests a potentially lucrative operation. The study outlined an impressive total EBITDA figure for a fully developed operation of US$3.74 billion across an initial mine life of 23 years.
The proposed mining and processing operation at Kanyika is tipped to produce about 11,300 tonnes of niobium and tantalum concentrate per annum on the back of newly unveiled proved and probable ore reserves of 33.8 million tonnes grading an average 3,048 ppm niobium pentoxide and 141 ppm tantalum pentoxide.
Perth-based Globe envisages the concentrate being transported to a refinery by road, rail and ship, with the refinery process then producing high-purity and high-quality niobium and tantalum marketable products to customer specifications.
The Malawi-based Hudson is the former Managing Director and Chief Executive Officer of Bikita Minerals - a leading supplier of the lithium mineral petalite, and prior to that was Managing Director of Tantalite Holdings. He has considerable experience in team management and in managing complex mining and processing operations.
Mr Hudson joined Globe in January 2021 and the company said he has a deep understanding of the project and of the marketing and financing initiatives underway as well as a strong rapport with the board and the other members of the senior executive team.
Globe said Hudson wasn’t on any fixed term and while incentives were yet to be finalised, he would receive US$240,000 per annum.
Globe injected more fresh blood into the board in November when it appointed former Queensland MP, Michael Choi, and former WMC and Rio Tinto finance executive, Michael Barrett as independent non-executive directors. Bill Hayden resigned on 31 December as foreshadowed.
A potential implementation schedule contained in the 2021 feasibility study highlights the main construction stage commencing in 2023 and commissioning, ramp-up and production kicking off a couple of years later.
Globe looks to have installed a steady pair of hands at the wheel of its African adventure whilst keeping long-standing former Managing Director Alistair Stephens on to advise as it strives to make the all-important transition from explorer to producer.
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By Matt Birney
