NioCorp's CEO Highlights Concerns Over China's Rare Earth Export Controls

In a keynote speech at the Morgan Stanley National Security & Critical Materials Symposium, Mark A. Smith, CEO of NioCorp Developments Ltd., addressed China's dual export licensing on heavy rare earths, emphasizing its ongoing impact. He highlighted the continued licensing process and stressed the risk this poses to U.S. supply chains. Smith urged the acceleration of domestic production to counter supply vulnerabilities.

He detailed the critical situation in which the U.S. imports 100% of essential minerals like niobium and scandium. Smith advocated for domestic production through the Elk Creek Project in Nebraska, pending financial backing.

Project updates revealed readiness for construction upon securing full funding. NioCorp aims to enhance U.S. supply chains by establishing downstream processing capabilities. This strategy aligns with ensuring secure and independent access to crucial materials, bypassing China's export restrictions.