Brazil's CBMM, the world's largest supplier of niobium products, plans to invest R$270 million (US$52.9 million) in technology development in 2024, up from R$230 million reported last year. It has increased.
“With strong investments in the areas of technology, process and product development, CBMM continues its sustainable growth strategy in the niobium market through applications, technology and value creation,” the company said in a statement.
“Contributions to the company's technology program, focused on driving innovation in its core steel industry and diversifying its business, particularly in the areas of batteries and nanomaterials, will total R$ 230 million in 2023. 270 million reais,” he added.
“Niobium is a material with installed capacity that exceeds global demand, so it is an area where a lot of work is being done in the research and development sector to explore new uses for the material,” says EY Mines. said Afonso Sartorio of the department. Head of South American Metals Sector told BNamericas.
Due to this feature, CBMM's Battery Materials and Technology division will receive R$80 million, the same amount as last year.
“With a production capacity of 150,000 tons of niobium products per year, which exceeds current global market demand, CBMM expects growth in the battery sector to accelerate over the next five years due to the development of materials that guarantee greater competitiveness and quality. ” said CBMM.
Significant battery efforts are related to innovations in the automotive sector. The company is partnering with Toshiba and Volkswagen to develop technology for trucks and buses, and plans to unveil the world's first electric bus with lithium batteries based on niobium-titanium mixed oxide technology later this year. .
“This technology enables fast charging operations with increased durability and safety, meeting key demands in this market,” the company said.
The company also plans to operate a niobium oxide plant in an industrial park in Minas Gerais state. The plant, announced in 2022, required an investment of R$265 million.
CBMM's 2023 revenue was R$11.4 billion and net profit was R$4.9 billion. Total sales volume of niobium products increased by 5% to 92,000 tons.
Approximately 95% of CBMM's production is exported, with the Asia-Pacific market accounting for approximately 64% of sales, Europe, the Middle East, and Africa 19%, and the Americas 17%.
