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NioCorp +7.5% as Elk Creek metals on U.S. critical minerals list

Published 05/21/2018, 05:39 PM
© Reuters. NioCorp +7.5% as Elk Creek metals on U.S. critical minerals list
  • NioCorp Developments (OTCQX:NIOBF) soared 7.5% in today's trade after the U.S. Department of Commerce included all the metals the company plans to mine at its Elk Creek project in Nebraska on the government’s register of critical minerals.
  • NioCorp says the designation establishes Elk Creek as one of only a handful of U.S. greenfield mining projects that "proposes to produce multiple critical minerals - niobium, scandium and titanium, in this case - that all have key uses in national defense and civilian technologies and upon which the U.S. is currently 100% dependent on foreign nations such as China and Russia."
  • NioCorp says it has obtained key U.S. permits to build the $1B Elk Creek mine, and that 75% of the mine's primary product - ferroniobium - already is under contract through the first 10 years of production.
  • Now read: Ossen Innovation After Canceling The Reverse Merger


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