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Brazilian niobium producer CBMM invests in U.S. startup to develop batteries

RIO DE JANEIRO, BRAZIL - The Brazilian Metallurgy and Mining Company (CBMM), responsible for about 80% of the world's niobium production, announced Friday (22) that it bought a 20% stake in U.S. startup Battery Streak as part of an agreement to develop battery materials.

"With the investment, the company expects to boost the development of new technologies and materials with niobium for the production of batteries for mobility applications, electronic equipment, and drones," the mining company explained in a statement.

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