NioBay Secures $500,000 Grant to Advance Crevier Niobium and Tantalum Project

[SMM Flash] The global niobium oxide market is projected to expand significantly, with consumption forecast to rise from 13,379 tonnes in 2024 to 29,267 tonnes by 2035, equivalent to a reported 7.4% CAGR. Niobium pentoxide accounts for around 97% of demand, while metallurgy remains the largest consuming sector at approximately 52%, supported by applications in superalloys, aerospace and advanced industrial technologies. Battery applications are also emerging as a potential growth area as niobium-based materials target faster-charging and safer energy-storage technologies. Supply concentration remains a key market consideration, with Brazil accounting for more than 65% of global production according to the information provided. This concentration increases the strategic importance of alternative sources as governments and downstream industries seek greater diversification of critical-mineral supply chains. In Malawi, Globe Metals & Mining's Kanyika Project is designed to produce approximately 3,000 tonnes of high-purity Nb₂O₅ annually at full scale, potentially establishing a significant non-Brazilian source of niobium oxide. Kanyika has also made progress in securing potential downstream markets, with non-binding offtake agreements involving Affilips, Neo Performance Materials and Myst Trading. The agreements reportedly cover around 82% of Phase 1 niobium production and 100% of tantalum production, although these remain non-binding arrangements.