Neo Performance Materials and Globe Metals & Mining Sign MOU for Offtake of Critical Metals from the Kanyika Project’s Phase 1 Production in Malawi
NEWS
Neo Performance Materials and Globe Metals & Mining Sign MOU for Offtake
of Critical Metals from the Kanyika Project’s Phase 1 Production in Malawi
TORONTO, Canada April 4, 2025 - Neo Performance Materials Inc. (“Neo” or the " Company")
(TSX:NEO) has signed a non-binding memorandum of understanding (the “MOU”) with Globe Metals &
Mining Ltd. (“Globe”) (ASX:GBE) for the offtake of up to 150 metric tonnes per year (MTPY) of niobium
pentoxide from the Kanyika Niobium Project in Malawi (the “Kanyika Project”).
Key Highlights
• The MOU provides the framework for the parties to negotiate a binding commercial offtake
agreement for the supply of niobium pentoxide from Globe's Kanyika Project in Malawi.
• Under the contemplated offtake agreement , NPM Silmet OÜ (“Silmet”), Neo’s rare metals
production facility in Sillamäe, Estonia, is expected to purchase 150 MTPY of high-purity niobium
pentoxide in Phase 1 of the Kanyika Project, which is targeted to start production in Q1 2027.
• Following the fulfillment of the initial purchase amounts, it is anticipated that the offtake agreement
will be renewed annually.
• Neo also has a limited right of first refusal to purchase other critical metals , such as tantalum and
zircon concentrates, produced at the Kanyika Project.
Globe's CEO, Paul Smith, said:
“The Neo MOU represents a watershed moment for the Kanyika Project. It means Globe has now signed
multiple MOUs and a letter of intent that, as a package, cover offtake for 100% of Kanyika’s Phase 1
production of both Niobium Pentoxide and Tantalum Pentoxide. We look forward to a long and lasting
relationship with Neo and are very pleased to be associated with such a highly regarded group, which enjoys
a pre-eminent position in the global market for strategic and critical metals.”
Neo's CEO, Rahim Suleman, said:
“We are laser -focused on diversifying and de-risking our supply chain , including our long term access to
critical metals, and expanding into increasingly more downstream value -added applications across all our
business lines, including niobium and tantalum. The feedstock agreement with Globe provides an opportunity
to engage in multi-year planning to optimize Neo’s supply chain.”
About Neo Performance Materials
Neo manufactures the building blocks of many modern technologies that enhance efficiency and
sustainability. Neo 's advanced industrial materials – magnetic powders, rare earth magnets, magnetic
assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday
products and emerging technologies. Neo 's products fast -forward technologies for the net -zero transition.
The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare
Metals. Neo is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwo od Village,
Colorado, United States; Singapore; and Beijing, China. Neo has a global platform that includes
manufacturing facilities located in China, Germany, Canada, Estonia, Thailand and the United Kingdom, as
well as a dedicated research and development centre in Singapore.
For more information, please visit www.neomaterials.com.
About Globe Metals & Mining
Globe is an African-focused resources company with its Kanyika Niobium Project in Malawi. The Kanyika
Niobium Project will produce niobium and tantalum products, which are key additives in high strength low-
alloy (HSLA) steels and electronics. A JORC Mineral Resource Estimate indicates that Kanyika could support
a mine life of over 23 years . Globe’s corporate head office in Perth, Australia , is supported by regional
operational offices in Lilongwe. Globe has been listed on the ASX since December 2005 (ASX: GBE).
For more information, please visit www.globemm.com.
Cautionary Statements Regarding Forward Looking Statements
This news release may contain "forward-looking information" within the meaning of applicable Canadian
securities legislation. Generally, but not always, forward -looking information and statements can be
identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such
words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will
be taken", "occur" or "be achieved" or the negative connotation thereof. Specific forward-looking statements
in this news release include, but are not limited to, the negotiation and drafting of a definitive offtake
agreement and the terms and conditions of such agreement and other matters relating thereto. In making the
forward-looking information in this news release, the Company has applied certain factors and assumptions
that are based on its current beliefs as well as assumptions made by and information currently available to
the Company. Although the Company considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect, and the forward-looking information in this release
is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially
from those expressed or implied in such forward-looking information. There are many risk factors associated
with the negotiation and drafting of a definitive offtake agreement and the terms and conditions of such
agreement. A number of factors could cause actual results to differ materially from those anticipated by the
Company, including but not limited to the risks and uncertainties inherent in the nature of the Transaction ,
including the risks of a material adverse change to the Company's assets or revenues, or risks of unknown
liabilities that may arise.
Readers are cautioned not to place undue reliance on forward-looking information. The Company does not
intend, and expressly disclaims any intention or obligation to, update or revise any forward -looking
information whether as a result of new information, future events or otherwise, except as required by law.
For more information on Neo, investors should review Neo's continuous disclosure filings that are available
under Neo's profile at www.sedarplus.ca.
Information Contacts
Irina Kuznetsova Vasileios Tsianos
Investor Relations Media Requests
(416) 367-8588 ext. 7334 (416) 367-8588 ext. 7335
Website: www.neomaterials.com