The inescapable question of the Blood Niobium Dossier: what if it were your mother?
Glória Duarte, 81, blind, co-owner of the land above the world's 2nd-largest niobium mine, survives on US$ 180/month…
Read the record →Critical-Minerals Intelligence Platform · Niobium
BLOOD NIOBIUM BLOG
The case file
Niobium has an owner.
Dignity does not.
The public archive of the Blood Niobium case: all auditable records trace, document by document, how CMOC extracted US$ 3.5 billion from the Boa Vista Mine — on land under a 10-year legal dispute, while six elderly co-owners died in extreme vulnerability.
Daily CountLive update
Niobium extracted — 2016–20260t Nb
Cumulative2016–Q1 2026
2025 (record)10,348 t
Q1 20262,670 t
Niobium revenue — 2016–20260USD (est.)
Historical prices2016–2025
Reference~US$ 3.5 bn
2025 priceUS$ 48.68/kg
Extracted today — live0t Nb / day
Current rateQ1 2026
2025 average28.35 t/day
Q1 2026 rate29.67 t/day
Market value — daily output0USD / day
CalculationQ1 2026
2025 basis~US$ 1.38 M
Q1 2026 basis~US$ 1.59 M
CATEGORY 01 · Dossier4 records · Dossier #001
C1C1.1 · Dossier
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Dossier
The Blood Niobium case in records: who Glória Duarte is, what Dossier #001 is, the timeline (2015–2026) and the paradox of US$ 3.5 billion × US$ 0.00 × 17 ESG seals.
See the other 3 Dossier records
CATEGORY 02 · Niobium6 records · Dossier #001
C2
C2.1 · Niobium
C2.2 · NiobiumWhat is niobium used for? From steel to the quantum qubit
C2.3 · NiobiumWhy is niobium steel stronger than ordinary steel?
C2.4 · NiobiumWhy is niobium considered a strategic military metal?
C2.5 · NiobiumIs niobium the metal that will power the future? From nuclear fusion to 600 km/h trains
C2.6 · NiobiumWhat are the medical applications of niobium?
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Niobium
What niobium is (element 41, Nb), what it is used for — from micro-alloyed steel to the quantum qubit —, military and medical applications, and why Brazil holds ~98% of reserves.
What is niobium — and why does Brazil hold 98% of what the world needs?
CMOC extracted 86,548 t of niobium from disputed land in Goiás. US$ 0.00 provisioned in 10 years (HKEX, Deloitte)…
Read the record →See the other 5 Niobium records
C2.2 · NiobiumWhat is niobium used for? From steel to the quantum qubitC2.3 · NiobiumWhy is niobium steel stronger than ordinary steel?C2.4 · NiobiumWhy is niobium considered a strategic military metal?C2.5 · NiobiumIs niobium the metal that will power the future? From nuclear fusion to 600 km/h trainsC2.6 · NiobiumWhat are the medical applications of niobium?CATEGORY 03 · Geopolitics2 records · Dossier #001
C3
C3.1 · Geopolitics
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Geopolitics
The geopolitics of niobium: why Brazil dominates ~98% of world supply and how US defense depends on a chain under Chinese influence (CMOC).
Why does Brazil control 98% of the world's niobium — and not use it as geopolitical power?
Brazil holds ~98% of reserves and ~90% of niobium output thanks to unique lateritic carbonatites — yet exports ferroniobium…
Read the record →See the other 1 Geopolitics records
CATEGORY 04 · Violations9 records · Dossier #001
C4
C4.1 · Violations
C4.2 · ViolationsWhat is HKEX Rule 13.09 — and why didn't CMOC disclose the Glória case?
C4.3 · ViolationsHow did Deloitte audit CMOC for 10 years with no provision? An ISA audit failure
C4.4 · ViolationsIAS 36 impairment: why didn't CMOC recognize the loss in value of the Boa Vista Mine?
C4.5 · ViolationsWhat is acquisition goodwill — and how does the Boa Vista Mine litigation threaten CMOC's?
C4.6 · ViolationsWhat is a material omission under IFRS — and how did CMOC commit it?
C4.7 · ViolationsWhat is a hidden liability and how do you spot it?
C4.8 · ViolationsHow does CMOC hide US$ 3.5 billion from investors? Three omissions, one mine
C4.9 · ViolationsHow much niobium did CMOC produce at the Boa Vista Mine (2016–2026)? The hidden scale
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Violations
The accounting violations: CAS 13 (≈ IAS 37), IAS 36, goodwill, HKEX Rule 13.09, material omission and hidden liabilities — how CMOC hides US$ 3.5 billion.
What is the provisioning standard CMOC ignores? CAS 13 (≈ IAS 37 §14/§86)
CAS 13 (≈ IAS 37) requires a provision when there is a present obligation, probable outflow and reliable estimate (§14)…
Read the record →See the other 8 Violations records
C4.2 · ViolationsWhat is HKEX Rule 13.09 — and why didn't CMOC disclose the Glória case?C4.3 · ViolationsHow did Deloitte audit CMOC for 10 years with no provision? An ISA audit failureC4.4 · ViolationsIAS 36 impairment: why didn't CMOC recognize the loss in value of the Boa Vista Mine?C4.5 · ViolationsWhat is acquisition goodwill — and how does the Boa Vista Mine litigation threaten CMOC's?C4.6 · ViolationsWhat is a material omission under IFRS — and how did CMOC commit it?C4.7 · ViolationsWhat is a hidden liability and how do you spot it?C4.8 · ViolationsHow does CMOC hide US$ 3.5 billion from investors? Three omissions, one mineC4.9 · ViolationsHow much niobium did CMOC produce at the Boa Vista Mine (2016–2026)? The hidden scaleCATEGORY 05 · ESG5 records · Dossier #001
C5
C5.1 · ESG
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ESG
Human rights and ESG: the UN UNGPs, the documented violations at the Boa Vista Mine and when extreme vulnerability becomes inside information.
What are the UN Guiding Principles on Business and Human Rights (UNGPs)?
The UNGPs (UN, 2011) set three pillars — protect, respect, remedy — and the 8 criteria of Principle 31…
Read the record →See the other 4 ESG records
CATEGORY 06 · Risks7 records · Dossier #001
C6
C6.1 · Risks
C6.2 · RisksAre ESG funds exposed to hidden human rights risks?
C6.3 · RisksWhy could FTSE4Good and S&P ESG index investors be exposed to CMOC?
C6.4 · RisksWhat is an ESG downgrade — and what happens to capital flows?
C6.5 · RisksWhat is a breach of fiduciary duty — and when can shareholders act?
C6.6 · RisksHow do HKEX and SFC investigate disclosure failures — and what are the penalties?
C6.7 · RisksWhat is ISA 501 — and what are the auditor's obligations in the face of litigation?
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Risks
Investor risk: how MSCI, FTSE4Good and S&P ESG assess CMOC, ESG downgrades, fiduciary duty and how HKEX/SFC investigate disclosure failures (ISA 501).
How does MSCI calculate ESG ratings — and why does CMOC keep its AA with a hidden liability?
The MSCI ESG rating (AAA–CCC) relies heavily on company self-disclosure — so CMOC can hold AA while reporting US$ 0.00…
Read the record →See the other 6 Risks records
C6.2 · RisksAre ESG funds exposed to hidden human rights risks?C6.3 · RisksWhy could FTSE4Good and S&P ESG index investors be exposed to CMOC?C6.4 · RisksWhat is an ESG downgrade — and what happens to capital flows?C6.5 · RisksWhat is a breach of fiduciary duty — and when can shareholders act?C6.6 · RisksHow do HKEX and SFC investigate disclosure failures — and what are the penalties?C6.7 · RisksWhat is ISA 501 — and what are the auditor's obligations in the face of litigation?CATEGORY 07 · Compliance3 records · Dossier #001
C7
C7.1 · Compliance
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Compliance
Supply-chain compliance: the LkSG (German law), CSDDD penalties and when a steel buyer must audit the niobium mine.
What is the LkSG — and why does it force European steelmakers to look at the Boa Vista Mine?
The LkSG (German Supply Chain Due Diligence Act, in force since 2023) requires large firms to run human-rights due diligence…
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