Kanyika Niobium Project
The Bankable Feasibility Study confirms Kanyika as a globally significant niobium and tantalum project. Stated on a 100% basis in real 1 January 2026 terms, the study delivers a post-tax NPV of US$1,025M with an IRR of 48%, a 24 year mine life, and first production of niobium oxide expected in early 2028.
Financial and operating metrics on a 100% basis, stated in real 1 January 2026 terms
US$1,025M
48%
US$205M
US$1,524M
24 Years
72%
US$6,983M
US$14.26/kg Nb₂O₅
US$139M
US$82M
US$28M
US$15M
US$14M
Ore Reserve (BFS)
Both estimates underpin the long-term viability and scale of the Kanyika Niobium Project.
The Project will be developed in phases to reduce upfront capital requirements and execution risk.
Initial Phase
Kanyika is positioned as a globally significant critical minerals project with strong technical foundations and a clear path to production.
Potential globally significant primary niobium and tantalum oxide producer targeting critical minerals markets across AI, aerospace, defence, superconductors and advanced manufacturing.
Provides a conflict-free, traceable and diversified supply source of critical minerals outside Brazil.
Completed technical programme including extensive metallurgical testwork and engineering optimisation underpinning a robust processing flowsheet and top-quartile recoveries.
Fully integrated on-site mine-to-refinery configuration producing high-purity niobium and tantalum oxide products.
Malawi’s long-term development blueprint, Vision 2063, sets out a bold ambition for the nation to become an inclusively wealthy and self-reliant country. Three pillars underpin this vision:
Mining is recognised in Vision 2063 as a driver of diversification and industrialisation, second only to agriculture. By unlocking strategic minerals such as niobium and tantalum, Malawi can:
The Kanyika Niobium Project, directly aligned with Vision 2063, is a strategic development asset that supports Malawi’s transition towards a more diversified, industrialised economy.
