This past summer, MDN, the Canadian mineral exploration company, began its exploration at its Samaqua property in Girardville, Quebec for the mineral carbonatite. The results will be released in approximately five months time. The property is adjacent to both the Crevier niobium and tantalum property.
Niobium is a mineral used mainly in steel alloys to create high strength-low alloy steels (called High Strength Low Alloy Steels), stainless steel and heat resistant steels. The heart of the Niobec deposit is niobium core surrounded by rare earths. There are only three major niobium producers worldwide. Along with MDN, there is Brasileira de Metalurgia and Mineracao (CBMM) in Brazil and Iamgold in Canada.
In August, Iamgold confirmed it received strong demand for its niobium in the first half of 2014, prompting it to increase its production forecast for the full year from 4.7-5.1 million to 5.2-5.5 million kilograms. This confirms niobiums high demand for the next few years because it allows for weight reduction, which is important from advanced industrial sectors because it helps increase steels resistance to high temperatures and corrosion while raising superconductivity. Niobium has, therefore, become essential in the petrochemical, power plant, oil & gas and pipeline industries.