NioBay seeks partners to advance Crevier project in Quebec
While niobium and tantalum represent relatively small markets, both carry great promise thanks to their growing use in defence, automobile and artificial intelligence applications.
NioBay Metals, a junior exploration company based in Montreal, is actively seeking financial partners to advance its Crevier niobium-tantalum project in northern Quebec. The project, which could potentially produce niobium and tantalum oxide by 2030, has garnered interest from both large mining groups and existing or future clients, such as defense companies.
Niobium and tantalum, although representing small markets, are classified as critical minerals by Canada and the United States due to their growing use in defense, automotive, and artificial intelligence applications. Both metals have faced supply disruptions, with tantalum's price more than doubling this year, driven by demand in artificial intelligence and supply issues in Africa.
The Crevier project, located in Quebec’s Lac Saint-Jean region, is the most advanced of NioBay’s two proposed projects. It contains an estimated 23.7 million tonnes of niobium and 4,200 tonnes of tantalum, with potential for expansion through a 10,000-metre exploration and definition drilling program slated for this year.
NioBay has secured a C$500,000 grant from Quebec’s Natural Resources Ministry to enhance niobium and tantalum processing and optimize hydrometallurgical procedures. The company anticipates a 25% increase in resource size, but more ambitious gains are possible. The Pekuakamiulnuatsh First Nation, which holds land rights in the Crevier area, has expressed support for the project and has signed a cooperation agreement with NioBay.
The company aims to potentially involve the First Nation as a business partner and eventual shareholder.
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