Niobay Metals

What Niobay Metals does

NioBay Metals Inc. (TSX-V: NBY / OTCQB: NBYCF) is a Canadian junior mining company headquartered in Montréal, Québec, focused on developing niobium and tantalum assets in tier-one Canadian jurisdictions. The portfolio is anchored by two flagship projects: the 100%-owned James Bay Niobium Project in Ontario (located in the Moose Cree Traditional Territory / Treaty 9, holding a mining lease valid until October 2028 and a new three-year exploration permit granted October 2025) and the 72.5%-owned Crevier Niobium and Tantalum Project in Québec (located in the Nitassinan territory of the Pekuakamiulnuatsh First Nation), supplemented by an option to acquire an 80% interest in the Foothills titanium-phosphate project, a 14,116-hectare lithium land package, and early-stage Gouin and Valentine exploration properties. The Crevier Project's February 2026 Mineral Resource Estimate defines 20,733,000 tons Measured & Indicated at 0.17% Nb₂O₅ and 202 ppm Ta₂O₅, plus 12,766,000 tons Inferred, supported by a mineralized strike length of more than 6 km.

NioBay's core technology is a pilot-scale integrated metallurgical and hydrometallurgical flowsheet developed and validated by SGS Canada Inc. at facilities in Québec City and Lakefield, Ontario. The flowsheet combines gravimetric separation, magnetic separation and flotation at the concentration stage (achieving 70% Nb₂O₅ recovery and concentrate grades of 17%-36% Nb₂O₅) with leaching, precipitation and calcination downstream (achieving 92.3% niobium and 95.8% tantalum extraction rates and 75.8% final Nb₂O₅ purity). A complementary fluoride-free alkaline fusion route is being advanced with Université Laval, CENET (CNETE) and URSTM (86.4% Nb / 91.4% Ta yields), and research partnerships with UQTR and the University of Waterloo have demonstrated Nb-Ti alloy/Pt coatings on SS316L bipolar plates exceeding US DOE technical targets for proton exchange membrane fuel cells. The NI 43-101 resource estimates are prepared by IOS Services Géoscientifiques with Jean-Michel Dubé, P.Geo., as Qualified Person.

The company is pre-revenue; commercial production has not commenced and future revenue is expected from direct B2B off-take of specialty niobium oxide (Nb₂O₅) to battery and superalloy manufacturers and tantalum oxide (Ta₂O₅) to high-tech customers. The go-to-market is enterprise field sales: the CEO and CFO personally present at PDAC and the Red Cloud Pre-PDAC Mining Showcase, and pilot-scale concentrate shipments have been delivered to prospective customers and research partners in Europe under non-disclosure agreements. Current operations are funded through recurring equity private placements (flow-through and charity flow-through units) totaling over C$13 million in gross proceeds from 2023 through 2025, supplemented by non-dilutive Quebec government grants (C$500,000 in 2024, C$400,000 in 2025) under the Mining Exploration Support Program for Critical and Strategic Minerals. The 1-10 employee organization operates with the support of a Technical Advisory Committee (formed September 2025) covering Aboriginal affairs, metallurgy, and Quebec junior mining expertise.

Name

Niobay Metals

Legal name

NioBay Metals Inc. (Les Métaux NioBay inc.)

Website

https://niobaymetals.com

Company type

Public

Founded year

1954

Operating status

Operating

Headcount range

1–10 employees

Short description

NioBay Metals is a Canadian junior mining company developing niobium and tantalum projects in Ontario and Québec for battery, superalloy, and high-tech manufacturers. The pre-revenue firm is advancing pilot-scale metallurgical processing toward specialty niobium oxide production with Indigenous partnerships.

Ownership category

akta.pro rank

Product category

Critical Minerals Mining

NAICS

Nonferrous Metal (except Aluminum) Production and Processing (3314), Nonferrous Metal (except Aluminum) Smelting and Refining (331410)

SIC

Metal Mining (1000)

akta.pro primary industry

Non-Ferrous Base Metals Trading (Aluminum, Copper, Zinc, Lead, Tin, Nickel) (IMAKAJAC)

Keywords

• Niobium mining
• Tantalum exploration
• Critical minerals development
• Mineral resource extraction
• Niobium oxide production

Headquarters

HQ city

Longueuil

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Pre-revenue exploration and development stage: NioBay is a pre-revenue mineral exploration and development company. Future revenue is expected from the sale of niobium oxide (Nb₂O₅) to battery and superalloy manufacturers and tantalum oxide (Ta₂O₅) to high-tech applications customers from the Crevier project, and niobium from the James Bay project. Current operations are funded through equity financings (private placements, flow-through units, charity flow-through units) and non-dilutive government grants.
2. Government grants and non-dilutive funding: Receipt of non-dilutive grants from Quebec's Ministère des Ressources naturelles et des Forêts (MRNF) under the Mining Exploration Support Program for Critical and Strategic Minerals (e.g., C$400,000 in 2025, C$500,000 in 2024) to fund mineral processing tests and exploration work on the Crevier project.
3. Equity financing via private placements: Capital raised through brokered and non-brokered private placements (units, flow-through units, charity flow-through units) with proceeds applied to exploration of the James Bay Niobium Project and Crevier Project and for working capital. Recent closings include C$8.5M (Dec 2025), C$2.2M (Jul 2025), C$981,550 (Jul 2024), C$871,520 (Jul 2023), and C$300,100 (Nov 2024).

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels5 records

Core offering

NioBay Metals is a pre-revenue Canadian junior mining company that explores, advances and plans to produce niobium and tantalum oxide products from its two flagship carbonatite projects — the 100%-owned James Bay Niobium Project in Ontario and the 72.5%-owned Crevier Niobium and Tantalum Project in Québec — with pilot-scale metallurgical and hydrometallurgical flowsheet development underway at SGS Canada to produce specialty niobium oxide (Nb₂O₅) for battery and superalloy manufacturers and tantalum oxide (Ta₂O₅) for high-tech applications.

Product overview

NioBay Metals is a Canadian junior mining company with a focused, asset-by-asset portfolio rather than a unified platform architecture. The company's offering centers on advancing two flagship mining projects — the 100%-owned James Bay Niobium Project in Ontario and the 72.5%-owned Crevier Niobium and Tantalum Project in Quebec — which together represent its strategic niobium-dominant critical minerals business. These core assets are complemented by earlier-stage exploration projects (Gouin in Quebec, Valentine in Ontario) and a 2023-added lithium land package of 250+ mining claims (14,116 ha) north of Crevier. NioBay also holds an option to acquire an 80% interest in the Foothills titanium-phosphate project in Quebec. Downstream, the Crevier pilot-scale work (with SGS Canada Inc.) targets commercial production of niobium oxide (Nb₂O₅) for battery and superalloy manufacturers and tantalum oxide for high-tech applications, supported by an R&D program that includes the Niobium-Titanium Alloy for Fuel Cells research collaboration with UQTR and University of Waterloo.

Differentiator

Problem solved

Functional benefit

Products and services

• James Bay Niobium Project A 100%-owned niobium mining project located approximately 45 km south of Moosonee in the Moose Cree Traditional Territory of the James Bay Lowlands, Ontario (Treaty 9), approximately 42 km south of Moose Factory. Holds a valid mining lease until October 2028 and received a new three-year exploration permit in October 2025. The project aims to provide high-grade niobium to Canadian industries for carbon emission reduction applications.
• Crevier Niobium and Tantalum Project A niobium and tantalum project held 72.5% by NioBay (27.5% held by Niobec Inc., a division of Magris Performance Materials Inc.), located approximately 50 km north of Girardville and 150 km from the Niobec mine in Québec, on the Nitassinan of the Pekuakamiulnuatsh First Nation. 2026 MRE: 20,733,000 tons Measured & Indicated at 0.17% Nb₂O₅ and 202 ppm Ta₂O₅, plus 12,766,000 tons Inferred. Metallurgical pilot work demonstrated 70% Nb₂O₅ recovery with end-products targeting niobium oxide for battery and superalloy manufacturers and tantalum oxide for high-tech applications.
• Foothills Project (Titanium-Phosphate) A titanium-phosphate exploration project under option to acquire an 80% interest from Vior Inc., located north of Saint-Urbain, 100 km north of Québec City and 90 km south of Saguenay, Québec. Covers approximately 285 km² across five claim blocks over the contact of the Saint-Urbain anorthosite. Surface sampling has confirmed high TiO₂ grades (>30% and >35%) in massive ilmenite boulders and rock outcrops, with drilling on Zone 1 intercepting up to 22% TiO₂.
• Niobium Oxide (Nb₂O₅) and Tantalum Oxide (Ta₂O₅) Products Planned end-products from the Crevier Project. Niobium pentoxide (Nb₂O₅) at 75.8% purity from pilot-scale production, intended for battery manufacturers and superalloy producers. Tantalum oxide targeting high-tech applications including electronics, capacitors, semiconductors and specialized alloys. Pilot-scale concentrate samples have been shipped to research partners (Université Laval, CENET, URSTM) for trials producing Niobium Ammonium Oxalate (ANO).
• Niobium-Titanium Alloy for PEM Fuel Cells (R&D) A research collaboration outcome with Université du Québec à Trois-Rivières (UQTR) and University of Waterloo on niobium-titanium (Nb-Ti) alloy/Pt coatings for stainless steel SS316L bipolar plates in proton exchange membrane (PEM) fuel cells. Demonstrated 42.6% increase in in-plane electrical conductivity and 3.5% increase in thermal conductivity, surpassing US DOE technical targets.

Quantifiable outcome

• 92.3% Nb and 95.8% Ta extraction rates from conventional hydrometallurgical process; 75.8% Nb₂O₅ final product purity
• +5 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Mashteuiatsh First Nations Drilling (Forage Premières Nations de Mashteuiatsh)coreImplementation/ SI/ Consulting Partner · 23 June 2026Mashteuiatsh First Nations Drilling is performing the 2026 summer drilling campaign on the Crevier property (and previous campaigns in 2025 and earlier), with logistics support from UniVert Forest Cooperative of Girardville and Marché Girardville for camp facilities and catering.
• Ronacher McKenzie Geoscience Inc.minorImplementation/ SI/ Consulting Partner · 23 June 2026Sudbury-based firm conducting inspection, reconnaissance and airborne geophysical surveys on the James Bay Niobium Project mining lease during the 2026 field season, with the support of an Indigenous guide from a local company.
• SGS Canada Inc. (SGS)coreImplementation/ SI/ Consulting Partner · 8 April 2026SGS Canada Inc. conducted the metallurgical portion of the pilot work at its Québec City facilities (gravimetric separation, magnetic separation, flotation) and the hydrometallurgical portion at its Lakefield, Ontario facility (leaching, precipitation, calcination) for the Crevier Project. Reports dated March 26 and March 30, 2026 are available under NDAs to partners, potential customers and financial institutions. Caroline Olsen, SGS Director of R&D – North America, sits on NioBay's Technical Advisory Committee.
• Université Laval, CENET (CNETE), and URSTMcoreStrategic or Co-development Partner · 8 April 2026Research partners conducting trials on unconventional routes to produce Ammonium Niobium Oxalate (ANO), including the fluoride-free alkaline fusion and water leaching process which achieved 86.4% Nb and 91.4% Ta extraction from a low-grade concentrate at 13% Nb₂O₅. NioBay plans to distribute concentrate to these partners.
• IOS Services Géoscientifiques (IOS Geosciences)coreImplementation/ SI/ Consulting Partner · 25 February 2026IOS Geosciences prepared the NI 43-101 Mineral Resource Estimate update for the Crevier Project (2026 MRE, effective February 23, 2026) and provides geological supervision for drilling campaigns at the Crevier and James Bay properties. Jean-Michel Dubé, P.Geo., is the Qualified Person.
• Moose Cree First Nation (MCFN) and Pekuakamiulnuatsh First NationcoreOthers · 9 October 2025NioBay's two flagship projects sit on Treaty 9 / Moose Cree Traditional Territory (James Bay) and Nitassinan territory of the Pekuakamiulnuatsh First Nation (Crevier). The Company commits to local hiring, Indigenous contractors and consent-based exploration. The Pekuakamiulnuatsh's main population centre Mashteuiatsh hosts the First Nations Drilling contractor on Crevier. In February 2026 MCFN publicly stated it would oppose and block the James Bay project.
• Carbone Boreal (Université du Québec à Chicoutimi)minorOthers · 26 February 2025Carbone Boreal received a donation from NioBay to offset the 32.14 tonnes of CO₂ equivalents generated by the Foothills Property fall 2024 drilling program.
• Université du Québec à Trois-Rivières (UQTR) and University of WaterloocoreStrategic or Co-development Partner · 19 September 2024Joint research led by Professors Samaneh Shahgalidi (UQTR) and Xianguo Li (University of Waterloo) on Nb-Ti alloy/Pt coatings on SS316L bipolar plates for proton exchange membrane fuel cells. Results published in Energy Conversion and Management 311 (2024) 118536 demonstrated 42.6% increase in in-plane electrical conductivity and 3.5% increase in thermal conductivity, exceeding US DOE targets.
• Vior Inc.minorStrategic or Co-development Partner · 21 February 2024Vior Inc. (TSX-V: VIO, OTCQB: VIORF) entered into a definitive option agreement granting NioBay the option to acquire an 80% interest in the Foothills titanium-phosphate project located near the former St-Urbain mine site in Quebec, covering approximately 285 km² across five separate claim blocks.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Taseko Mines: Taseko Mines (TSX: TKO) is a Canadian intermediate miner developing the Aley niobium project in British Columbia — the only other significant publicly-traded Canadian niobium development project, making it the most directly comparable peer to NioBay's Crevier and James Bay assets.
• Largo Resources: Largo Resources (NASDAQ: LGO) operates the Maracás Menchen mine in Brazil, producing vanadium with niobium as a co-product; it is a producing niobium peer that provides a public-market benchmark for niobium by-product economics from a similar ore body type.

Broad incumbents

• Magris Performance Materials (Niobec): Magris owns the operating St-Honoré niobium mine in Quebec (via its Niobec subsidiary), the only producing niobium mine in North America; it is also NioBay's 27.5% JV partner at Crevier, making it both a direct competitor and structural counterparty in NioBay's flagship asset.
• CBMM: CBMM is the privately-held Brazilian niobium producer controlling roughly 80% of global niobium supply; it is the dominant incumbent against which any new niobium project (including NioBay) must compete on cost and customer relationships.
• China Molybdenum (CMOC): CMOC (HKEX: 3993) acquired Anglo American's Niobios and Fosfatos businesses and operates the Catalão niobium mine in Brazil, making it the second-largest global niobium producer and a key reference point for niobium project economics.
• Anglo American: Anglo American divested its Niobios operations (now owned by CMOC) but is a major diversified miner with a historical niobium franchise; relevant as a broad incumbent establishing the strategic and pricing context for niobium as a critical mineral.

Emerging players

• Saville Resources: Saville Resources (TSXV: SRE) holds the Niobium Claim Group in Quebec adjacent to Niobec's producing mine, making it a small-cap emerging niobium peer with similar Quebec-jurisdiction dynamics and exploration-stage positioning as NioBay.
• NEO Battery Materials: NEO Battery Materials (TSXV: NBM) is a Canadian emerging battery-materials company developing silicon anode technology; it represents a comparable emerging downstream-customer-side peer targeting the same advanced-battery markets NioBay's niobium oxide is positioned to serve.

Regional players

• Critical Elements Lithium: Critical Elements Lithium (TSXV: CRE) is a Quebec-focused critical-minerals junior advancing a lithium project with tantalum by-products; it shares NioBay's Quebec-jurisdiction, critical-mineral, Indigenous-engagement profile and comparable junior-mining capital-market dynamics.

Others

• Tronox Holdings: Tronox Holdings (NYSE: TROX) is a global titanium minerals and zircon producer with active mining in Quebec and Australia; it is thematically comparable to NioBay's Foothills titanium-phosphate option and represents a downstream end-market context for NioBay's Ti-P optionality.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/NiobayMetals

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds7 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Niobay Metals