Chinese Mining Giant Secures Brazilian Rare Earth Mining Company

Chinese Mining Giant Secures Brazilian Rare Earth Mining Company

In a strategic move, China Nonferrous Metal Mining Group (CNMC) has acquired Mineração Taboca S.A. for $340 million. The deal, finalized on November 26, 2024, grants China access to vital raw materials for green and electronic technologies. Taboca, Brazil’s largest refined tin producer, operates the Pitinga Mine in Presidente Figueiredo, Amazonas. This mine boasts an […]

China Nonferrous Trade (CNT) signed an agreement this week to buy 100% of the shares of the Taboca mining company, for US$ 340 million, and will take over a tin mine explored in the Amazon. CNT is a subsidiary of the state-owned China Nonferrous Metal Mining Group (CNMG). In a statement, Taboca announced that the execution of this sales agreement is subject to certain requirements and conditions customary to this type of transaction.

The reserve has a stock estimated by the company to last a century