Globe Metals & Mining Limited provided an update on the progress of the finalisation of the Mining Development Agreement (MDA) for the Kanyika Niobium Project. Globe confirms that it has received formal communication from the Malawi Ministry of Mining advising that the negotiations and attendant review of the draft Kanyika Niobium Project MDA have been consummated, following a recommendation for approval made by the Government's MDA Steering Committee. The letter further states that the Ministry of Justice is vetting the final draft of the MDA, in readiness for submission to the Ministers of Mining and Finance for approval and signing which may take place in due course.

The Company cautions that the process is not yet complete, and that approval and signing is subject to Ministers of Mining and Finance discretion.