Chinese steelmakers invest $1.95 billion in Brazilian miner

A consortium of Chinese buyers shells out $1.95 billion for a 15% stake in a Brazilian niobium producer, as China's quest to secure supplies of key natural resources continues.

Chinese steelmakers invest $1.95 billion in Brazilian miner
Crystals of ferroniobium seen in a scanning electron microscope

A Chinese consortium has paid $1.95 billion for a 15% stake in a Brazilian niobium producer, just a few months after a similar investment by a consortium of Japanese and Korean strategic buyers.

Companhia Brasileira de Metalurgia e Mineracao CBMM is the world’s biggest producer of niobium, a raw material used in steel-making. It is majority-owned by the Moreira Salles group, which also controls Unibanco, one of the largest banks in Brazil. The Chinese buyers...

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