- Globe Metals & Mining (GBE) completes an advanced payment to Project Affected Persons
- Project Affected Persons refers to households affected by a decision to mine at the Kanyika Niobium Project in Malawi, which will require locals to relocate for the mining to proceed
- The company says the payment is an advance on the compensation that will be due to those affected when a decision to mine at Kanyika is formalised, with the company targeting a decision to mine by the end of 2022
- Advance payments were made during December 2021 and January 2022, with 235 or 239 households accepting payments totalling 57.7 million Malawian kwacha (A$90,000).
- Globe Metals & Mining last traded at 7.5 cents at 12:30 pm AEDT.
Globe Metals & Mining (GBE) has completed an advanced payment to Project Affected Persons.
Project Affected Persons refers to households affected by a decision to mine at the Kanyika Niobium Project in Malawi, who will be required to relocate for mining to proceed.
The company said the payment is a goodwill measure and is an advance on the compensation that will be due to those affected when a decision to mine at Kanyika is formalised.
Currently, Globe is targeting a decision to mine by the end of 2022, with the relocation of Project Affected Persons in the first quarter of 2023, once notice has been given.
Those affected by the decision were identified in a formal assessment that was undertaken by the Mzimba District Commissioner’s Office in consultation with the traditional authorities and Malawi government during 2012.
Advance payments were made during December 2021 and January 2022, with money being direct debited to a bank account nominated by each household.
Of 239 households identified as being eligible to receive the advance payment, 235 accepted payments, resulting in a total payment by Globe of 57.7 million Malawian kwacha (A$90,000).
The payment was facilitated by a series of community meetings, which involved the heads of the village and other traditional authorities, representatives of non-government organisations and those affected directly.
Globe said the payments are part of an ongoing process by Globe to forget better and stronger relationships with the Kanyika community.
Globe Metals & Mining last traded at 7.5 cents at 12:30 pm AEDT.