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Niobium - The envy of the gods
The growing recognition of niobium as a vital new-age metal with limited supply was reflected in Anglo American’s recent sale of Catalão. The auction process was keenly competitive and resulted in Anglo selling Catalão for US$1.5bn, c 50% more than previous market forecasts. Two years earlier, in 2014, Magris Resources (owned 50% each by Cheung Kong and the Canadian Imperial Bank of Commerce) and Temasek acquired Niobec from IAMGOLD for c US$500m and, in 2011, Posco and Nippon jointly invested c US$2.0bn for a 15% interest in CBMM, followed by a Chinese consortium comprising CITIC, Baosteel and Shougang on similar terms, shortly afterwards.
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