ASX-listed Globe Metals and Mining says it is entering a “transformational phase” in its history, having strengthened its financial position, advanced technical and permitting workstreams and forged deeper relationships with governments and strategic partners globally.

The Kanyika Niobium project is set to become the first major non-Brazilian niobium producer in more than fifty years; the company points out in its year-end update.

The updated bankable feasibility study (BFS) is on track for completion by March 31, 2026, laying the technical and economic groundwork for final investment decision (FID), funding, offtake agreements and the mobilisation of construction.

In the coming year, Globe expects Kanyika to evolve from a fully permitted plan into a construction-ready, internationally strategic critical-minerals asset.

The company successfully completed two capital placements, raising a total of A$8.67-million. These funds have materially strengthened its balance sheet, providing the liquidity required to complete the BFS, advance the resettlement action plan, initiate early works, and ensure compliance with its substantial-works obligations by September 27, 2026.

Kanyika has been designed for phased development, to enable an efficient, lower-risk path to first production while allowing the market to absorb early volumes and support future expansion.

The first phase is designed to deliver roughly one-third of the company’s full-scale processing capacity, supported by a solar–diesel hybrid power-purchase agreement solution. First production of saleable oxide is planned for January 2028.

 Phase two, planned for April 2029, aims to scale the operation to production of 3 000 t to 3 300 t of niobium pentoxide and 150 t to 160 t of tantalum pentoxide a year.

This staged approach reduces upfront capital risk, accelerates cash flow, and aligns Globe’s expansion with customer qualification and long-term market demand, the company explains.

The FID will follow the completion of the BFS and alignment of funding and offtake structures.

Globe has already engaged in early-contractor interaction with several mining and construction groups.

These discussions support scope definition, cost benchmarking, final layout development, long-lead procurement scheduling and early mobilisation planning, it informs.

Once financing is secured, the company plans to progress immediately into front end engineering design and construction.

Globe highlights technical progress on the BFS, noting that its power strategy has been refined to focus on a 33 kV Chinyama grid connection supported by optional independent power producer hybrid generation. All engineering disciplines are aligned with the scheduled BFS completion by March 31, 2026.

The company also highlights continuing constructive community engagement , with the Kanyika liaison committee endorsing a phased relocation strategy aligned with the company’s development timeline.  Phase One, representing about 20% of affected households, is planned for quarter two 2026.

Globe is finalising drone surveys, household assessments, compensation models, grievance procedures and community consultation processes.

Governmental engagement in Malawi has strengthened throughout the year, Globe says, with new formed relationships engendering confidence in the project’s long-term stability and the company’s capability to meet the September 27, 2026, substantial works milestone.

Communications and investor engagement efforts also gained momentum during the year.

The company highlights that Kanyika stands to become the first major new niobium pentoxide producer in fifty years, playing a critical role in the future of aerospace, defence, clean energy and advanced manufacturing.