UK Export Credit Agency Shows Interest in NioCorp's Elk Creek Project

NioCorp Developments Ltd. announced receipt of a preliminary, non-binding Expression of Interest (EOI) from UK Export Finance (UKEF) for a potential debt guarantee of up to $200 million. This guarantee would support the construction of the Elk Creek Critical Minerals Project designed to produce niobium, scandium, and titanium.

The guarantee is contingent upon meeting certain criteria, including establishing an offtake agreement for NioCorp's products with UK-based companies. NioCorp is in ongoing discussions regarding potential sales of scandium-based products.

The EOI from UKEF aligns with prospective financing from the Export-Import Bank of the United States and Germany's Untied Loan Guarantee Loan Program, for which NioCorp is eligible. However, the EOI is not legally binding and depends on standard project finance terms and due diligence under UKEF policies.