Saville to start drilling for a niobium discovery in Quebec
Niobium: A much needed key metal for the automotive industry
“Usage of about 300 gram of niobium in steel for a mid-size passenger car reduces the weight of the vehicle by approximately 200 kg, in turn, improving the fuel economy of the vehicle (1 liter per 200 km) and reducing exhaust emissions.“ (Source)
Today, Saville Resources Inc. reported that a maiden drill program on the Niobium Claim Group Property in Québec is expected to start soon. The goal is to make a high-grade niobium discovery at shallow depths.
A newly published market study on niobium forecasts strong growth of 5.9% CAGR (Compound Annual Growth Rate) during 2019-2024, whereas it is noted that “a small number of producers around the world [...] can hinder the growth of the market studied“.
As such, new niobium supply is needed, especially on the North American continent, because “The global niobium market is dominated by [Brazilian based] CBMM accounting for 84% of the market, which holds a monopoly over niobium supply. The other prominent companies include China Molybdenum Co. Ltd (CMOC International), NIOBEC (Magris Resources Company), Alkane Resources Ltd, and Grandview Materials...“.
The niobium market is witnessing a growing usage in the automotive industry as lightweight materials and designs are key to enhance fuel economy in ICE (Internal Combustion Engines) as well as in EV (Electric Vehicles).
Saville is getting ready to start drilling its Québec property, aiming for a significant niobium discovery with the drill bit as past exploration has indicated potential for a near-surface deposit with high grades of niobium and tantalum.
Commerce Resources is engaged in the business of acquiring, exploring, developing and evaluating mineral resource properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. Co. is in the exploration stage and has interests in properties located in British Columbia and Quebec, Canada. The recoverability of amounts shown for resource properties is dependent upon the discovery of economically recoverable reserves, continuation of Co.'s interest in the underlying mineral claims, the ability of Co. to obtain financing to complete their development, and future profitable production or disposition thereof.
Rockstone is a research house specialized in the analysis and valuation of capital markets and publicly listed companies. The focus is set on exploration, development and production of resource deposits as well as marcoeconomic analysis of commodity and currency markets. Our international team of five analysts bring our German and English speaking readership a wealth of experience from the commodity markets: Stephan Bogner (mining analyst), John P. Barry (professional geologist), Chris Berry (macroeconomist), Prof. Dr. Hans Bocker (award-winning book author), and Boris Gerjovic (fundamental analyst).
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