Globe Metals & Mining (ASX:GBE) has signed a non-binding memorandum of understanding with Myst Trading for the purchase of 14 tonnes of refined high-purity tantalum pentoxide and 76 tonnes of refined high-purity niobium pentoxide.
Globe and Myst will work towards executing a binding offtake agreement by Q2 2025 with a full offtake agreement expected by 1 September.
The MoU outlines the framework for both parties to negotiate a binding offtake agreement for the Kanyika Niobium Project phase one production. It also means that Globe has now signed non-binding offtake agreements for 57% of phase one production of niobium pentoxide and 100% of phase one production of tantalum pentoxide.
Globe CEO Paul Smith says this is the second non-binding agreement signed following its agreement with Affilips on niobium offtake announced in September 2024.
The Myst MoU gives Globe access to the lucrative Asian markets for niobium and tantalum oxides, Smith notes.
“The key non-binding agreements will further support the finalisation of our updated bankable feasibility study and associated funding commitments underway. Globe looks forward to announcing very significant Kanyika Project development milestones in the coming months, which will pave the way for the development of this exciting project,” the CEO adds.
Myst Trading is a Singapore-based company specialising in the global trading of physical metals and concentrates. Founded in 2017 as an asset management company, Myst evolved into a physical commodity merchant with a key focus in the battery materials and base metals supply chains.
The company sources, stores, and distributes materials across the value chain, from direct shipping ore to value-added products. Myst provides offtake and supply solutions with flexible payment, financing, and pricing terms. Leveraging deep expertise in derivatives markets, the company offers hedging support and structured pricing solutions to help clients manage financial risk.
Write to Adam Orlando at Mining.com.au
Images: Globe
