One thing I think people don't appreciate about the niobium...

One thing I think people don't appreciate about the niobium market is a double forcing effect is in place. Steelmaking volumes are increasing (hence the iron ore boom), and the proportion of niobium intensity in steel is also on the increase.

For example, if you made 100 Mt of steel in 2007 with 10t of niobium used, and your steel production grows 10% you need 11t of niobium. If your niobium intensity in steelmaking increases 20% p.a. as well, you need 12.2t of niobium. Compound that for five years and you really see niobium demand skyrocketing.

I think this is a factor at work in the Nb and specialty metals markets, for moly, vanadium, chrome, etc. The problem is, its a commodity no one loves and understands, in a country 99% of Aussies can't place on a map (Germans would do better), and this is a bear market.

I'm hoping GBE stays sluggishly in the sub-30c region for a fair while. I want more. Cheaply. You don't need to be a Fe explorer to benefit greatly from Fe's growth.