Globe Metals & Mining (ASX:GBE) signed a non-binding memorandum of understanding (MoU) with Myst Trading for the purchase of 14 tonnes of tantalum pentoxide and 76 tonnes of niobium pentoxide, according to a Monday filing with the Australian bourse.

The MoU outlines the framework for negotiating a binding offtake agreement for the Kanyika project phase one production in Malawi, the filing said.

The initial three-year term of the agreement will start from first production of the first phase of the project, according to the filing.