This market resolves YES if CBMM's installed nameplate capacity for high-purity niobium oxide (Nb2O5) at the Araxá complex exceeds 1000 tpa on December 31, 2026.

What is being measured: Maximum annual output of high-purity / battery-grade / electronic-grade Nb2O5 that CBMM's Araxá complex is currently commissioned to produce, in metric tonnes per year. Excludes technical-grade Nb2O5 or FeNb-conversion oxide not separately identified as a high-purity stream.

Data timing: Capacity changes are announced via CBMM press releases when new plant is commissioned; no reporting lag is required. Resolution uses most recently announced installed capacity as of December 31, 2026.

YES if:

• CBMM press releases or sustainability reports confirm installed high-purity Nb2O5 capacity exceeds 1000 tpa as of December 31, 2026

NO if:

• Confirmed installed capacity is ≤ 1000 tpa as of December 31, 2026

• If no capacity figure is publicly available, resolve using the most conservative available estimate; if still ambiguous, resolves NO

See measurable definition: measurables/niobium/cbmm_high_purity_oxide_capacity.measurable.yaml

Primary sources:

1. CBMM corporate press releases (cbmm.com.br) — capacity commissioning announcements

2. CBMM Annual Sustainability Report — advanced materials capacity section

3. Echion Technologies partnership updates (echiontech.com) — XNO production scale

Secondary sources: 4. Project Blue supply chain analysis — CBMM Nb2O5 capacity assessments 5. Fastmarkets / Asian Metal / Benchmark Mineral Intelligence — trade press capacity reports 6. Patent filings and regulatory disclosures — CBMM Araxá plant expansions