NioCorp Secures DoD Funding for Scandium Supply Chain Initiative

The U.S. Department of Defense has granted up to $10 million to Elk Creek Resources Corp., a subsidiary of NioCorp Developments Ltd. This funding, part of the Defense Production Act Title III, aims to establish the United States’ first scandium mine-to-alloy supply chain. The Elk Creek Project in Nebraska is integral for reducing reliance on foreign sources, primarily China, for critical minerals.

Supported by the U.S. congressional delegation from Nebraska, this funding aligns with initiatives to boost domestic mineral production. It aims to expedite the development and deployment of aluminum-scandium alloy components in defense aerospace systems, facilitating potential debt financing of up to $800 million from the U.S. Export-Import Bank.

The Elk Creek Project seeks to become a major U.S. producer of scandium, niobium, and titanium, crucial for defense and commercial technologies. The grant is expected to complete engineering studies and reserve drilling, advancing aluminum-scandium alloy integration into aerospace platforms with a defense contractor.