A global leader in the niobium industry

In September 2011, CITIC Metal, together with Baowu (formerly Baosteel), Ansteel, Shougang, and TISCO, established China Niobium Investment Holdings Limited in Hong Kong. The consortium acquired a 15% equity stake in CBMM, the world’s largest niobium producer, with CITIC Metal holding a 33.3% interest in the consortium. Since the investment, CBMM has maintained stable operations, demonstrated strong profitability, and consistently delivered a high dividend payout ratio.

Niobium holds significant strategic importance for national economic development as well as the growth of fundamental and pillar industries. In China, niobium resources are generally difficult to extract due to complex ore composition and low grade. Most deposits are associated with other minerals, making development challenging. As a result, China relied on imports for about 95% of its niobium supply, and was the single largest consumer of niobium products from CBMM. This investment secured the strategic supply of niobium resources for the domestic market, created strong synergies with CITIC Metal’s niobium trading business, and enhanced its strategic partnerships with downstream users.

CBMM, founded in 1955 in Araxá, Minas Gerais, Brazil, is the world’s largest producer and industry leader in niobium products. It holds over 70% of the world’s proven niobium reserves, making it the biggest, most durable, and lowest-cost niobium mine globally. CBMM produces about 80% of the world’s niobium and holds a 70% share of the global niobium product market.