CITIC Group, TISCO and Baosteel acquire stake in world’s biggest niobium producer

China Niobium Investment Holding, a joint venture of Chinese steel giant Baosteel Corporation, Shanxi Province-based Chinese steel producer Taiyuan Iron and Steel Group (TISCO) and Chinese state-run investment group CITIC Group, has acquired a 15 percent stake in the world's largest niobium producer, Brazil-based CBMM, for a consideration of $1.95 billion.
 
CBMM's annual production capacity of niobium accounts for 85 percent of global niobium output capacity.