China’s Stake in Brazil’s Niobium: Daily

By Ben Tavener, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – A Chinese consortium acquired a fifteen percent stake in the Companhia Brasileira de Metalurgia e Mineração (Brazilian Metallurgy and Mining Company, CMBB) in September 2011, it has been revealed, the world’s biggest producer of niobium, a rare and strategically important metallic element.

The consortium bought its stake in the Minas Gerais-based company, part of the Moreira Salles Group, for US$1.95 billion.

Some experts have questioned Brazil’s own strategic interests after giving such a big stake to Subscribe to our Premium Membership Plan. Already Subscribed?