NioCorp Highlights U.S. Dependency on China for Critical Minerals at D.C. Conference

Mark A. Smith, CEO of NioCorp Developments Ltd., emphasizes the heightened risk posed by China's leverage over U.S. access to critical minerals essential for military and clean energy technologies. He plans to discuss these concerns at a conference in Washington, D.C. on March 12, 2024, advocating for accelerated U.S. critical mineral development initiatives.

The conference will showcase NioCorp's Elk Creek Critical Minerals Project, with notable speakers such as EXIM Board Chair Rita Jo Lewis and U.S. Secretary of Energy Jennifer Granholm. The initiative aims to secure $800 million in debt financing from EXIM for the Elk Creek Project, already passing the first Transaction Review Committee hurdle. This stage of development is crucial for U.S. efforts to reduce reliance on foreign critical minerals.

Smith also intends to address the rapid growth in electric vehicle (EV) sales, stressing the exaggerated reports of EV decline. U.S. EV sales in 2023 surpassed one million units for the first time, indicating a robust market that NioCorp’s project could significantly impact. Recorded presentations from the event should provide insights into how NioCorp and the U.S. plan to address critical mineral dependency issues.