----Interview with Charles Altshuler
General Manager
Globe Metals & Mining Limited
Globe Metals & Mining Limited (ASX:GBE, FWB:G4U) is an Australian-listed company focused on developing the Kanyika Niobium Project in Malawi, Africa. The project is set to become the first new niobium mine in more than 50 years and only the second vertically integrated producer of high-purity niobium oxide globally.
Asian Metal: Hi Charles, welcome to this interview with Asian Metal. Could you please give us a brief introduction to your niobium project?
Charles: Globe Metals & Mining Limited is an Australian-listed company currently focused on developing the Kanyika Niobium Project in Malawi, Africa. The project is positioned to become the first new niobium mine in over 50 years and only the second vertically integrated producer of high-purity niobium oxide in the world. The project contains a JORC (Joint Ore Reserves Committee)–compliant resource of 68.3 million tonnes and ore reserves of 33.8 million tonnes, offering a long mine life, low-cost open-pit mining, and strong economic fundamentals. With a total investment of USD 245 million, the project will be developed in three phases: Phase I involves USD 75 million to produce 1,000t of Nb2O5 and 50t of Ta2O5; Phase II involves USD 95 million targeting 2,000t of Nb2O5 and 100t of Ta2O5; and Phase III involves USD 75 million aiming for 3,000t of Nb2O5 and 150t of Ta2O5. The Kanyika Project will produce high-purity niobium oxide (Nb2O5) and tantalum oxide (Ta2O5), supplying specialty markets such as aerospace, defense, electronics, and advanced energy storage. Demand is being driven by applications in superalloys, optical glass, and next-generation batteries—particularly for electric vehicles and grid-scale energy storage. With niobium oxide prices projected to exceed USD 60/kg, Our company is well positioned to benefit from rising global interest in critical minerals and the diversification of supply chains away from Brazil, which currently dominates the niobium industry. Our company is strongly committed to sustainability and ESG principles, including eco-friendly production, dry tailings disposal, renewable energy integration, and robust community engagement. The project is fully permitted with agreements in place with the Government of Malawi, and is partially funded through debt facilities and offtake MOUs with partners in Europe, Asia, and North America. With production targeted for 2027, We aims to provide a strategic, reliable, and sustainable source of niobium oxide to global markets.
Asian Metal: Malawi is an emerging country in niobium supply. Could you tell us more about the niobium mining and investment environment there?
Charles: Malawi is recognized as one of Africa’s most stable democracies. Since moving away from one-party rule in the early 1990s, it has held regular multi-party elections and peaceful transitions of power—most notably the 2020 presidential election rerun, which was internationally acclaimed. This democratic record, combined with transparent regulatory frameworks, makes Malawi a reliable and attractive destination for foreign investment and long-term partnerships. Our company has established a strong working relationship with the Malawian government, engaging directly with key institutions such as the Presidential Delivery Unit, the Malawi Investment and Trade Centre, the Ministry of Finance, the Ministry of Mining, and the Malawi Environment Protection Authority. These high-level engagements have confirmed the Kanyika Niobium Project as a presidential priority and supported progress in environmental approvals, tax incentives, and Export Development Zone status for the planned refinery. This alignment reflects Malawi’s clear commitment to supporting projects that deliver economic and social benefits. At the same time, We are strengthening ties with local communities to ensure long-term trust. The appointment of Dr. Joseph C. N. Mkandawire—former Principal Secretary of the Ministry of Mining with more than 35 years of public service—to the board of Malawian subsidiary demonstrates our commitment to local leadership. By empowering a figure deeply connected to Malawi’s institutions, we send a clear message of respect for national priorities and community perspectives. In parallel, the company is advancing its Community Development Agreement, focusing on sustainable growth, job creation, and social programs. Collectively, these initiatives reflect our strategy of developing a world-class niobium project through partnership, transparency, and shared value with government and community stakeholders.
Asian Metal: What is your view on niobium market prices in 2024, and what are the expectations for 2025?
Charles: Niobium oxide prices have remained very strong, supported by multiple structural trends. Mainstream prices reached around USD 57/kg in 2024 and are expected to increase to approximately USD 63/kg in 2025. The rapid expansion of the middle class and ongoing urbanization are fueling demand for electronics, electric vehicles (EVs), sensors, energy systems, and medical equipment such as MRI machines, as access to advanced healthcare widens. At the same time, accelerating technological development—including artificial intelligence, data centers, and 5G networks—is pushing consumption further. Commercial aviation and aerospace are also major demand drivers, supported by the “new space race” and significant investments from China, India, Japan, the United States, and Europe. Moreover, increasing geopolitical instability and regional conflicts are pushing governments to allocate larger defense budgets, where niobium’s unique properties are essential.
Asian Metal: Given strong downstream demand, what do you expect for total niobium consumption in 2024 and 2025?
Charles: Global niobium consumption reached approximately 13,398t in 2024 and is forecast to rise to around 14,375t in 2025. For the reasons mentioned earlier, we believe the niobium oxide market will continue to experience strong growth. China enjoys a distinct advantage through its access to oxide production from Africa. Currently, China is the only meaningful competitor to Brazil in the niobium oxide supply chain. This is precisely why our project has strategic importance for Chinese companies. China has deep operational experience across Africa, giving it confidence in navigating regional dynamics. Furthermore, Malawi’s stability and democratic governance provide a secure supply environment at a time when global political imbalances are creating risks in many other jurisdictions. In today’s world—characterized by geopolitical uncertainty and supply chain disruptions—reliable and strategically located resources like those of us are exceptionally valuable.
Asian Metal: What about the supply outlook for 2024 and 2025?
Charles: The niobium market is not heading toward oversupply. On the contrary, with expected growth across electronics, EVs, energy storage, aerospace, and defense sectors, the market is moving toward a structural supply shortage. This tightening will be a major driver of significant price increases in the coming years. Even with CBMM’s ambitious investment plan targeting 25,000 tonnes annually for the battery sector alone, supply is unlikely to keep pace with accelerating demand. Regardless of whether CBMM meets its full targets, its initiative is expected to catalyze the entire industry by promoting adoption, validating new applications, and supporting broader market development. In summary, supply will remain constrained in 2024 and 2025, while demand continues to grow rapidly—further reinforcing the global strategic value of niobium resources.
Asian Metal: What are your plans for Globe’s niobium business in 2025?
Charles: Our focus in 2025 is to secure strategic offtake agreements with companies that not only believe in the long-term potential of our business but are also prepared to partner with us in funding and project development. These agreements will establish the foundation for a stable and transparent supply chain. We are also ready to send samples to China to jointly develop a fully integrated process—from mine to market. This collaborative approach ensures that our partners benefit from a reliable resource base while we advance the commercialization of the project.
