The World's Leading Supplier of Niobium
In September 2011, CITIC Metal, teamed with Baosteel Group, Ansteel Group, Shougang Group, and TISCO, set up the Hong Kong-based China Niobium Investment Holdings Limited, and acquired a 15% equity stake in Companhia Brasileira de Metalurgia e Mineracao (CBMM), the world's largest producer of niobium. CITIC Metal occupied a 33.3% equity stake of the consortium. CBMM has consistently delivered good earnings track record and maintained high dividend payout ratio.
Niobium is critical to the national economy and defense. China is the single largest consumer of niobium from CBMM. The investment has strongly secured stable supply of niobium to China, creating excellent synergy with our niobium product line, and enhancing our strategic ties with the four major steel mills.
Founded in 1955 in Araxá, Minas Gerais, Brazil, CBMM has been recognized as the world's largest and leading niobium producer. With more than 70% of the world's niobium reserves, CBMM operates the largest and highest-grade niobium mine with the longest mine life and lowest cash cost of production. Over the years, CBMM has been committed to the exploitation, production and marketing of niobium products, owns about 80% market share in China and over 70% of global market.