Globe Metals & Mining announced yesterday it had ended an exploration agreement with the Malawi Ministry of Natural Resources, Energy and Mining. The agreement had given the Ministry access and exploration rights to Globe’s Katengeza Graphite prospect.
In a press release, the ASX-listed mineral resources company said the Malawian government had held back a “significant section” of the Katengeza Graphite prospect when it first granted Globe its prospecting license.
The government said this was to “to promote studies of graphite mineralisation in Malawi and to ascertain whether there was potential to generate a ‘cottage’ industry for Malawians.”
Since then, Globe undertook a preliminary assessment of the Katengeza prospect and results indicated high-grade graphite mineralisation at the site.
As the agreement with the government has now ended, the company said it was “preparing plans to undertake further assessment” of the prospect.