NioCorp Developments Ltd.
(“NioCorp” or the
"Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) today
praised the Trump Administration for proposing that NioCorp’s
entire planned product suite of three superalloy metals – niobium,
scandium, and titanium – be considered as “Critical Minerals” under
President Trump’s December 20, 2017 Executive Order aimed at
encouraging greater domestic production of materials that are
“vital to the Nation’s security and economic prosperity.”
In a Federal Register notice published today, the Trump
Administration included niobium, scandium, and titanium on a list
of 35 materials proposed as “Critical Minerals.”
The Company believes that the proposed listing significantly
elevates the strategic importance of the Elk Creek Project,
particularly given that it is the only proposed mine in the U.S.
that is expected to produce both niobium and scandium, two
superalloy metals that have significant uses in national defense
technologies and upon which the U.S. is currently 100% dependent on
foreign nations such as Russia and China.
“In many ways, our Elk Creek Superalloy Project is emerging as
an increasingly unique and valuable ‘critical minerals mine’ in
terms of its strategic importance to the United States and to other
Western nations,” said Mark A. Smith, Executive Chairman and CEO of
NioCorp. “We are very pleased with the increasing attention
that is being paid to the superalloy metals we intend to produce,
and we look forward to moving this project to construction and
commercial operation as rapidly as we can.”
The two Nebraska Congressmen wrote a letter recently to the
Trump Administration advocating for scandium’s inclusion in the
“Critical Materials” list. In their letter, which can be seen here,
the Congressman noted the following:
“Scandium is used in a variety of defense and civil applications
including lasers, electronics, and high-performance lighting. When
added to aluminum, scandium makes an extraordinarily light and
strong alloy for use in bulkheads, heat shields, fuel and exhaust
systems, aircraft fuselage and landing gear assemblies, mobile
bridges, missiles, and other defense systems. In the commercial
sector, scandium alloys are poised to drive major advances in
commercial aircraft and surface transportation systems through
greater fuel efficiency and reduced emissions. Scandium is also a
critical component of Solid Oxide Fuel Cells which provide highly
efficient and reliable power generation for DoD, NASA, and
companies such as Home Depot, Walmart, Apple, Google, and Verizon,”
they wrote.
“Despite these strategic uses, today our nation is 100%
dependent on imported scandium, primarily from China and Russia. We
share the concerns of many of our colleagues in Congress who
consider this a significant national security vulnerability for the
United States. For this reason, the FY2018 National Defense
Authorization Act included language that specifically mentions
scandium and the need to develop domestic sources of this strategic
material. We also note that the European Union added scandium to
its 2017 list of Critical Raw Materials, further illustrating its
growing importance in global commodity supply chains,” they
wrote.
Nebraska stands to emerge as a major global producer of scandium
once the Elk Creek Project comes online. As currently planned, the
Project is estimated to produce more than 100 tonnes of scandium
oxide product annually when brought to full-scale production.
Current global production of scandium oxide is estimated by the
U.S. Geologic Survey at only 10-15 tonnes per year.
The Administration’s priority list also included 15 of the rare
earth elements, which were grouped as a single entry on the list.
NioCorp’s Elk Creek ore body in southeast Nebraska is known to
contain rare earth elements as well, although the Company has no
current plans to produce rare earth commercial products.
The proposed “Critical Minerals” list published in the Federal
Register was developed in response to President Trump’s Executive
Order of December 20 entitled “Presidential Executive Order on a
Federal Strategy to Ensure Secure and Reliable Supplies of Critical
Minerals.”
On Behalf of the Board of Directors,
"Mark Smith”
Mark Smith Executive Chairman, CEO, and
Director
Qualified Persons: Scott
Honan, M.Sc., SME-RM, of NioCorp Developments Ltd., a Qualified
Person as defined by National Instrument 43-101, has read and
approved the technical information contained in this news
release.
Source: NioCorp Developments
Ltd.
@NioCorp @realdonaldtrump $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 NioCorpNioCorp 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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