There is some truth to this question. However, the reality is more complex. Brazil is indeed the largest producer of niobium, with about 90% of the total, with only a handful of producers; Canada follows well behind. Geology has blessed Brazil with the right geology to identify this metal and privately owned companies have been dominating the space for years.
Looking at mine supply, Brazil’s predominance is evident.
But that’s not the full story. There’s substantial growth ahead. Global niobium demand is rising, driven by its critical role in high-strength steel (52% consumption), aerospace superalloys, and emerging electric vehicle (EV) battery technologies. In 2024, the global market reached 13,379 tons and estimates see the market growing at a ~4-7% CAGR (2026–2035), potentially more than double to 29,267 tons by 2035. Key demand drivers include increased infrastructure spending, weight reduction in vehicles, and superior fast-charging capabilities in batteries.
On the price outlook, the niobium oxide market shows strong upward momentum. By 2035, high-purity Nb₂O₅ is forecast to reach USD 90–100 per kg, reflecting premium demand in batteries, optics, and semiconductors. Standard-grade Nb₂O₅ is projected in the USD 45–60 per kg range, supported by alloy and metallurgy applications.
Some key regions are shown in this map, for both supply and demand.
These conditions have opened the door to new entrants and are fueling interest in listed equities focused on niobium. Part of this renewed interest comes from niobium’s relationship with rare earths, as these elements are often occur together in various deposit types/mineralisation.
Among listed peers, we can mention:
- WA1 RESOURCES LTD | ASX: #WA1
- NioCorp Developments Ltd. | NASDAQ: $NB
- ST GEORGE MINING LIMITED | ASX: $SGQ
- RAREX LIMITED | ASX: $REE
- GLOBE METALS & MINING LIMITED | ASX: $GBE
Sources: WA1 Resources, SFA research, Globe Metals.
More on niobium
Please note these answers provide guidance, are educational in nature, and are not a recommendation to buy any specific securities. See the disclaimer below for more important information.
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