The price of Niobium did not halve from $39 in 2014 to $ 22 in 2015. On the DFS, Cradle provides some views on the price outlook, but they do not disclose all the details since pricing is an strategic variable that few have access to, and they do not want competitors to have free access to it.
I believe that some accounting reconciliation is the reason for this discrepancy, since they mention the "capitalization of sales" as result of the poor EBIT performance, and not price.
Other 2 companies that Bid for Anglo American..., page-6
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