NioCorp Applauds White House Executive Order on Critical Minerals; Predicts Initiative May Spark a New Era of Expanded Invest...
December 21 2017 - 12:28PM
NioCorp Developments Ltd. (“NioCorp” or the
"Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) today
applauded the leadership of the White House in issuing an Executive
Order yesterday aimed at accelerating U.S. production of critical
minerals upon which the U.S. is largely import dependent.
“The Executive Order signed this week by President Donald J.
Trump marks a significant departure from U.S. Executive Branch
policy priorities of recent years because of its focus on actively
and aggressively supporting increased mining and processing in the
U.S. of critical minerals,” said NioCorp Executive Chairman and CEO
Mark Smith. “It goes further in this regard than any other
such Presidential directive I have seen in my more than 36 years in
this industry.”
“First and foremost, it establishes some very important policy
directives to all federal agencies,” Mr. Smith said. “For
example, it dictates that it is now ‘the policy of the Federal
Government to reduce the Nation’s vulnerability to disruptions in
the supply of critical minerals, which constitutes a strategic
vulnerability for the security and prosperity of the United
States.’ It calls for ‘increasing activity at all levels of
the supply chain, including exploration, mining, concentration,
separation, alloying, recycling, and reprocessing critical
minerals.’ It directs federal agencies to ‘promote
streamlining leasing and permitting processes to expedite
exploration, production, processing, reprocessing, recycling, and
domestic refining of critical minerals.’”
“Further, it sets a timeline of only 60 days for Interior
Secretary Ryan Zinke and Defense Secretary James Mattis to identify
a list of critical minerals that will become the focus of federal
efforts under the Executive Order,” Mr. Smith said. “This is
an aggressive timeline for action that signals to me that the
President intends to place a high priority on this effort.”
“In my estimation, this Executive Order may provide the spark
that launches a new era of expanded investment and growth in the
environmentally responsible production of critical minerals in the
U.S.,” said Mr. Smith. “We very much welcome such a forceful
statement of Administrative policy, and we applaud President
Trump’s and Secretary’s Zinke’s leadership in this regard.”
Mr. Smith noted: “Critical minerals are defined in
yesterday’s Executive Order as ‘(i) a non-fuel mineral or mineral
material essential to the economic and national security of the
United States, (ii) the supply chain of which is vulnerable to
disruption, and (iii) that serves an essential function in the
manufacturing of a product, the absence of which would have
significant consequences for our economy or our national security.’
Under these definitions, all three of the superalloy metals –
niobium, scandium, and titanium – planned for production by NioCorp
at its Nebraska-based Elk Creek Project should qualify. In
fact, I believe that the Elk Creek Project may land in the sweet
spot of criticality under this Executive Order.”
“We look forward to working closely with the Trump
Administration, the Congress, and state and local leaders in
Nebraska as the policies and initiatives of this Executive Order
are further refined and implemented,” Mr. Smith concluded.
On Behalf of the Board of Directors,
"Mark Smith”
Mark Smith Executive Chairman, CEO, and
Director
Source: NioCorp Developments
Ltd. @NioCorp $NB $NIOBF $BR3 #Niobium #Scandium #ElkCreek
For More Information:
Contact Jim Sims, VP of External Affairs, NioCorp Developments
Ltd., 303-503-6203, jim.sims@niocorp.com
About NioCorp
NioCorp is developing a superalloy materials
project in Southeast Nebraska that will produce Niobium, Scandium,
and Titanium. Niobium is used to produce superalloys as well as
High Strength, Low Alloy ("HSLA") steel, which is a lighter,
stronger steel used in automotive, structural, and pipeline
applications. Scandium is a superalloy material that can be
combined with Aluminum to make alloys with increased strength and
improved corrosion resistance. Scandium also is a critical
component of advanced solid oxide fuel cells. Titanium is
used in various superalloys and is a key component of pigments used
in paper, paint and plastics and is also used for aerospace
applications, armor and medical implants.
Cautionary Note Regarding Forward-Looking
Statements
Neither TSX nor its Regulation Services Provider
(as that term is defined in the policies of the TSX) accepts
responsibility for the adequacy or accuracy of this document.
Certain statements contained in this document may constitute
forward-looking statements, including but not limited to potential
future production at the Elk Creek Project, anticipated products to
be produced at the Elk Creek Project, the future critical and
strategic nature of niobium and scandium, anticipated costs of
production at the Elk Creek Project being competitive, and
anticipated competitive advantages. Such forward-looking statements
are based upon NioCorp’s reasonable expectations and business plan
at the date hereof, which are subject to change depending on
economic, political and competitive circumstances and
contingencies. Readers are cautioned that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause a change in such assumptions and the actual
outcomes and estimates to be materially different from those
estimated or anticipated future results, achievements or position
expressed or implied by those forward-looking statements. Risks,
uncertainties and other factors that could cause NioCorp’s plans or
prospects to change include risks related to the Company's ability
to operate as a going concern; risks related to the Company's
requirement of significant additional capital; changes in demand
for and price of commodities (such as fuel and electricity) and
currencies; changes in economic valuations of the Project, such as
Net Present Value calculations, changes or disruptions in the
securities markets; legislative, political or economic
developments; the need to obtain permits and comply with laws and
regulations and other regulatory requirements; the possibility that
actual results of work may differ from projections/expectations or
may not realize the perceived potential of NioCorp’s projects;
risks of accidents, equipment breakdowns and labor disputes or
other unanticipated difficulties or interruptions; the possibility
of cost overruns or unanticipated expenses in development programs;
operating or technical difficulties in connection with exploration,
mining or development activities; the speculative nature of mineral
exploration and development, including the risks of diminishing
quantities of grades of reserves and resources; and the risks
involved in the exploration, development and mining business and
the risks set forth in the Company’s filings with the SEC at
www.sec.gov. NioCorp disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise.
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