Globe Metals & Mining Limited has opted to withdraw from a joint venture exploring in Mozambique to instead focus on its niobium project. Globe entered the joint venture with Mihandzu Minerals in 2011 to explore the Memba project for titanium, vanadium and iron. The initial agreement required Globe to spent $200,000 on exploration in the first year, in which it would earn a 20% interest in the project.

After completing that initial requirement the company has now decided its money is better spent on furthering its niobium project in Malawi. The company was transitioning to development at the Kanyika project in Malawi, in line with plans to begin production of ferro-niobium in 2014/15.