General discussion, page-191

Still watching GAL - Pd Pt and Ni price headwinds are not helping them.
My reading of China's involvement in Nb is that a consortium of Chinese steel producers own 15% of CBMM (Araxa, Brazil) and the Chinese company CMOC owns 100% of Catalao 1 (Mina 1, Mina 2) and Catalao 2 (Boa Vista). CBMM produces about 110,000t of FeNb, CMOC about 14,000t, and Magris Resources (Niobec) in Canada produces about 9,000t. That makes up over 95% of the world's FeNb production. The Chinese companies bought their interests to secure a source of supply for China's steel production (China does not mine FeNb). The geopolitical risk with Nb, which helps to put it on countries' critical mineral lists, comes from the fact that over 90% of world production comes from one country (Brazil) and about 90% of that from one company (CBMM).