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NioBay Metals is seeking a mining group or potential customer to help advance its Crevier niobium-tantalum project in northern Quebec. CEO Jean-Sébastien David said a partnership could support a prefeasibility study and environmental assessment; he said an agreement might come in the coming months, though 2027 is a more realistic target. The company is also drilling to expand the project’s resource.
NioBay Metals is seeking a mining-company partner or potential customer to help advance its Crevier niobium-tantalum project in northern Quebec, CEO Jean-Sébastien David told The Northern Miner. He said partner funding or commitments could help the junior explorer proceed with a prefeasibility study and environmental assessment, steps toward its stated aim of first production in the early 2030s.
David said possible partners include large mining groups and existing or prospective customers, including defence companies. He said some potential customers want to secure supply, and that a letter of intent would be a useful starting point. The discussions are not yet a completed deal: NioBay has not announced a partner or disclosed financing terms.
David told The Northern Miner he hoped an agreement might be announced near the end of 2026, but described 2027 as the more realistic timing. He said a partnership could help the company advance technical and environmental work. The report did not identify specific counterparties or give a project-level budget for those studies.
NioBay is also conducting a 10,000-metre drilling program at Crevier this year, intended to expand and define the resource. David said he would be pleased with a 25% resource increase, while stressing that the result could be higher. That figure is his aspiration, not a reported drilling result; no updated resource from the current program was available in the report.
Partnering Could Fund Crevier Studies
For NioBay, an outside partner could provide more than capital. A mining company could bring development experience, while a prospective customer might offer a route to market or a supply commitment. David said some clients want confidence they will receive product, making commercial relationships part of the project’s financing and development strategy.
Crevier concerns two minerals designated as critical minerals by Canada and the United States. Niobium is used in alloyed steel and aerospace and military applications, while tantalum is used in specialized industrial applications. The report says China dominates global niobium supply and that tantalum prices have risen this year amid stronger demand linked to artificial intelligence and supply disruptions in Africa. Those market conditions help explain NioBay’s pitch to North American buyers, but they do not establish that Crevier will be profitable or that customers have committed to buy its output.
The development also matters to the project’s host community. Crevier is on territory of the Pekuakamiulnuatsh First Nation, which signed a cooperation agreement with NioBay in 2023. David said he wants the First Nation to become a business partner and has discussed possible involvement, including a board seat or equity stake. He also said those possibilities have not advanced to an agreement.
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Crevier’s Resource and Development Stage
Crevier is in Quebec’s Lac Saint-Jean region, about 450 kilometres north of Montreal, and is the most advanced of NioBay’s two projects. The company’s other property, James Bay, is a niobium project in northern Ontario. NioBay says Crevier could become North America’s only niobium and tantalum oxide mine if it is built; that remains a prospective description, not an operating asset.
A February 2026 resource estimate for a pit-mining scenario reports 23.7 million measured and indicated tonnes grading 0.17% niobium and 202 parts per million tantalum. It also lists 12.8 million inferred tonnes grading 0.12% niobium and 131 parts per million tantalum. These are resource estimates, not reserves or proof that the material can be mined economically.
A company presentation describes a potential 20-year operation, with estimated annual revenue of C$118 million to C$153 million and annual expenses of C$55 million to C$80 million. These are company estimates, not actual results or guarantees. The Northern Miner reported that NioBay has produced preliminary economic assessments over the years, but those studies were not displayed on the company’s website. The project has had previous owners, including Iamgold and Cambior.
In August, Quebec’s natural resources ministry awarded NioBay a C$500,000 grant for work on processing niobium and tantalum and optimizing hydrometallurgical processes. The company has also reported metallurgical tests yielding high-purity oxide samples. The grant and test results support technical work, but do not substitute for the feasibility, permitting and financing needed to build a mine.
“We’re working very hard on partnerships for Crevier.”
— Jean-Sébastien David, NioBay Metals CEO, speaking to The Northern Miner
Partner Terms and Mine Economics
No partner has been named, and NioBay has not announced a signed agreement, customer commitment, financing amount or timetable for completing a prefeasibility study or environmental assessment. David’s reference to possible announcements in 2026 or 2027 is an expectation, not a confirmed deadline.
The current drilling program may change the resource, but its eventual results are not yet reported. The resource figures are not reserves, and the company’s revenue and expense estimates do not establish that a mine would be economically viable. The report also does not provide updated capital costs, a construction schedule, permitting status or a final production plan. NioBay’s desired commercial role for the Pekuakamiulnuatsh First Nation remains under discussion, with no board appointment or equity investment confirmed.
Drilling and Partnership Milestones
NioBay’s near-term work includes completing the 10,000-metre Crevier drilling program and reporting results that may support a resource update. The company will also continue processing research backed in part by Quebec’s C$500,000 grant. These technical results could inform later project studies, but the source does not give a schedule for a new resource estimate or study completion.
The other key milestone is whether NioBay secures a mining group or customer partner. David said he hopes for an announcement by the end of 2026 but considers 2027 more realistic. Any announced letter of intent would need to be distinguished from a binding financing or purchase agreement; the report does not say what form or terms a deal would take. Progress toward a mine would also depend on studies, environmental review, financing and engagement with the First Nation whose territory hosts Crevier.
Key Questions
What is NioBay seeking for the Crevier project?
NioBay is seeking financial and commercial partners, potentially including a large mining group or a prospective customer. CEO Jean-Sébastien David said a partnership could help fund a prefeasibility study and environmental assessment.
Has NioBay signed a partnership agreement?
No agreement was reported. David said discussions are ongoing and described a letter of intent as a possible first step. The company has not identified a partner or disclosed deal terms.
When could a partnership be announced?
David said he hoped for an announcement by the end of 2026, but called 2027 more realistic. This is his expectation, not a confirmed deadline.
What minerals would Crevier produce?
The project is being advanced for niobium and tantalum. NioBay’s February 2026 resource estimate includes measured and indicated as well as inferred material, but those estimates are not mineral reserves or proof of economic production.
What happens next at Crevier?
NioBay is carrying out a 10,000-metre drilling program and processing work supported by a Quebec government grant. The company is also pursuing partners; study schedules, updated drilling results and any agreement remain unconfirmed.
Source: rss
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