St George Mining Ltd (ASX:SGQ) is set to take on a high-grade niobium project in the Minas Gerais region of Brazil, which occurs within the same geological setting as a nearby mine run by CBMM (Companhia Brasileira de Metalurgia e Mineração) which produces around 80% of the world’s niobium. And the market has welcomed the news, with St George shares trading at 4.1 cents at 11:48 AEST, a rise of 20.59% since the market opened. The project – named Araxá – is also prospective for rare earth elements (REEs), and will be acquired through a binding agreement between St George and Itafos Araxá Minera…