CENTENNIAL, Colo., March 7, 2022 /CNW/ -- NioCorp Developments Ltd.
("NioCorp" or the "Company") (TSX: NB) (OTCQX: NIOBF)
is pleased to announce that it has now completed deployment of a
management system aligned with the latest version ("EP4") of
the Equator Principles Environmental, Social, and Governance
("ESG") principles. This achievement is a key step in
NioCorp's efforts to formalize its ESG management practices and is
also a requirement of prospective lenders for its Elk Creek
Superalloy Materials Project (the "Elk Creek Project") in
Nebraska.
The Equator Principles, developed by the Equator Principles
Association, serve as a common baseline and risk management
framework for financial institutions to identify, assess, and
manage environmental and social risks when financing Projects such
as the Elk Creek Project. The latest version of the
Principles can be seen here. A total of 138 financial
institutions in 38 countries (list here) have officially
adopted the Equator Principles and have pledged not to finance
projects that do not adhere to the Equator Principles' 10 key
objectives.
"Demonstrating our commitment to the Equator Principals
underscores the fact that the NioCorp team walks the talk on
environmental, social, and governance issues, as we have for many
years," said Mark A. Smith, CEO and
Executive Chairman of NioCorp. "Operating production facilities
with these principles in mind has always been table stakes for our
team."
"The Elk Creek Project has been designed from the ground up to
maximize efficiencies and minimize environmental impacts," added
Scott Honan, NioCorp's Chief
Operating Officer. "We look forward to demonstrating that the
Elk Creek Project can produce a suite of critical minerals that can
support environmentally sustainable technologies such as electric
vehicles while we minimize environmental impacts and support the
communities of southeast Nebraska."
As part of its ESG program under the Equator Principles, NioCorp
has:
- Completed a comprehensive risk assessment along with management
plans for high-risk areas;
- Conducted preliminary environmental and social impact
assessments;
- Developed an Environmental and Social Management System,
including procedures for key ESG subject areas that will assist
with the management of the Company's day-to-day activities;
- Developed more formal community engagement procedures;
- Established a grievance mechanism for local communities and
other stakeholders;
- Completed a Climate Change Risk Assessment for the project,
demonstrating the project's resilience to climate-related risks;
and
- Completed an Environmental Justice assessment for the project,
demonstrating the positive impacts that the project will have for
the people of Southeast
Nebraska.
@NioCorp $NB.TO $NIOBF #Niobium #Scandium #ElkCreek #rareearth
#neodymium #terbium #dysprosium
For More Information
Contact Jim Sims, VP of External
Affairs, NioCorp Developments Ltd., +1 (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. The Company also is
evaluating the potential to produce several rare earth byproducts
from the Project. 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 is also 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. Magnetic rare
earths, such as Neodymium, Praseodymium, Terbium, and Dysprosium
are critical to the making of Neodymium-Iron-Boron ("NdFeB")
magnets, which are used across a wide variety of defense and
civilian applications.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this document may constitute
forward-looking statements, including but not limited to statements
regarding the Company's commitments to activities related to ESG
principles; the Company's ability to secure sufficient project
financing to complete construction and commence operation of the
Project; and the Company's expectation and ability to produce
Niobium, Scandium, Titanium and rare earths products. Such
forward-looking statements are based on estimates and assumptions
made by the Company in light of its experience and its perception
of historical trends, current conditions and expected future
developments, as well as other factors that the Company believes
are appropriate in the circumstances. Readers are cautioned that
such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause a change in such
forward-looking statements 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 NioCorp's ability to operate as a going concern;
risks related to NioCorp's requirement of significant additional
capital; changes in demand for and price of commodities (such as
fuel and electricity) and currencies; 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; the risks involved
in the exploration, development and mining business, and the risks
set forth in the Company's filings with Canadian securities
regulators at www.sedar.com and 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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SOURCE NioCorp Developments Ltd.