Globe Metals & Mining (ASX:GBE) updates on Kanyika Niobium Project strategic discussions
Globe Metals & Mining has provided an update regarding ongoing strategic discussions concerning the Kanyika Niobium Project, confirming engagement with multiple parties regarding potential joint venture, strategic, offtake, investment, funding and project development opportunities.
The company also confirmed confidential and incomplete negotiations with Sinomine (Hong Kong) Rare Metals Resources Co., Limited, a subsidiary of Sinomine Resource Group Co., Ltd, regarding a potential transaction involving the acquisition of 100% of the shares in Globe’s UK subsidiary through which its interest in the Kanyika Project is held.
Highlights
Globe is engaged in early stage discussions with parties regarding potential joint venture, strategic, offtake, investment, funding and project development opportunities for the Kanyika Niobium Project.
Confidential and incomplete negotiations are underway with Sinomine regarding a potential transaction involving the acquisition of 100% of the shares in Globe’s UK subsidiary through which its interest in Kanyika is held.
Discussions with Sinomine are based on a non binding indication of interest for cash consideration of approximately US$80 million, with commercial terms being negotiated and due diligence progressing.
Globe continues to progress the Kanyika Project in the ordinary course while negotiations and discussions continue.
Globe confirmed it is engaged in discussions with other parties regarding potential joint venture, strategic, offtake, investment, funding and project development opportunities for the Kanyika Niobium Project.
Discussions with Sinomine remain confidential and incomplete, with the parties currently negotiating commercial terms and progressing due diligence.
Sinomine (Hong Kong) Rare Metals Resources Co., Limited is a subsidiary of Sinomine Resource Group Co., Ltd, a Shenzhen Stock Exchange listed global mining and resource development group.
Globe stated that Sinomine specialises in copper, lithium and strategic minerals, with operations and project experience across Africa, Asia, Europe and North America.
As of 31 March 2026, Sinomine had net assets of approximately US$1.88 billion, revenues of approximately US$1 billion in 2025 and net profits of approximately US$68 million.
The potential transaction under discussion involves the acquisition of 100% of the shares in Globe’s UK subsidiary through which its interest in the Kanyika Project is held.
Globe confirmed that no binding terms have been agreed, with discussions based on a non binding indication of interest for cash consideration of approximately US$80 million.
Any binding agreement would require shareholder approval as a condition precedent to completion.
Globe confirmed that other early stage discussions referenced in the announcement are non binding and provide alternative pathways should the potential transaction not proceed.
Globe is also evaluating new mining and mineral projects, with several potential opportunities under review, although no decision has been made to proceed with any particular transaction.
Globe continues to progress the Kanyika Project in the ordinary course while negotiations and discussions continue.
The company will provide further updates in accordance with its continuous disclosure obligations.