NioCorp Developments

NioCorp Developments Ltd., founded on February 27, 1987, is a mineral exploration and development company focused on establishing a domestic supply chain for critical minerals. The company's primary focus is the Elk Creek Critical Minerals Project located in southeast Nebraska, which is poised to be North America's only niobium, scandium, and titanium mining and processing facility. The project is situated on land parcels owned and optioned by NioCorp's wholly-owned subsidiary, Elk Creek Resources Corp.

The company is led by CEO and Executive Chairman Mark A. Smith, who joined in 2013 and has over 40 years of experience in the mining and mineral processing industries. His background includes leadership roles at Molycorp, Chevron Mining, and serving as a shareholder representative for CBMM, the world's largest niobium producer. This experience, particularly with Molycorp during China's 2010 rare earth export restrictions, provides him with unique insight into the strategic importance of domestic mineral production. The management team also includes COO Scott Honan, who joined in 2014 and has extensive experience in the niobium and rare earth industries, having previously worked at Molycorp's Mountain Pass facility.

NioCorp's business model centers on the extraction and processing of critical minerals essential for various industrial and defense applications. The company is currently in the pre-construction phase, having secured significant funding to advance the Elk Creek Project. A recent milestone includes an award of up to $10 million from the U.S. Department of Defense to support the establishment of a domestic scandium supply chain. The company is not yet in commercial production and has a history of losses, which is typical for a development-stage mineral exploration company.

The Elk Creek Project boasts the highest-grade niobium resource in North America and the second-largest indicated rare earth resource in the United States. NioCorp plans to produce ferroniobium, scandium, and titanium, and is also evaluating the potential for producing magnetic rare earth oxides like neodymium, praseodymium, dysprosium, and terbium. These materials are crucial for manufacturing high-strength, low-alloy (HSLA) steel, lightweight aluminum alloys, and high-performance permanent magnets used in sectors such as aerospace, defense, automotive, and renewable energy. The project has been designed with sustainability in mind, incorporating features like zero process water discharge and using mine tailings for underground backfill.

Keywords: critical minerals, niobium, scandium, titanium, rare earth elements, mineral exploration, mining development, Elk Creek Project, ferroniobium, neodymium-praseodymium, superalloys, strategic materials, domestic supply chain, mining, mineral processing, carbonatite, resource extraction, HSLA steel, permanent magnets, defense minerals