Chinese State Firms Take Stake in Brazil's Niobium Miner

(Beijing) -- Chinese state firms have jointly acquired a 15 percent stake in Brazil's CBMM, the world's largest supplier of rare earths material niobium, for US$ 1.95 billion.

The buyers are conglomerate CITIC Group and four steel makers Baosteel, Taiyuan Iron and Steel, Anshan Iron & Steel Group and Shougang Group, the official Xinhua News Agency reported on September 1.