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Brazil miner CBMM seeks to sell 45,000 tons of niobium oxide by 2030

RIO DE JANEIRO, Feb 9 (Reuters) - Brazilian mining company CBMM hopes to sell some 45,000 tons of niobium oxide by 2030, turbocharging growth from just 100 tons this year, targeting demand from electric vehicle makers, the company’s vice president told Reuters on Tuesday.

Niobium oxide, a rare metal, can be used in production of batteries, a market expected to boom in the next few years, driven by demand for electric vehicle manufacturers.

Ricardo Lima, CBMM’s vice president, said in an interview that niobium oxide sales would rise to represent about 25% of the company’s revenue by 2030 if its forecasts are met.

Lima added that CBMM is already a market leader in niobium oxide sales, although these have mostly not been marketed at making batteries.

He said the company has a 50% worldwide market share in other uses of the metal, whichincludes making lenses and superconductors for MRI machines. (Reporting by Marta Nogueira; Editing by David Gregorio)

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