CEO and Executive Chairman Mark A. Smith to Discuss NioCorp's Proposed Scandium Production in Southeast Nebraska and Prospective Scandium Markets
Conference Also Features Panel Discussion with NioCorp, Rio Tinto, Project Blue, and Traxys
CENTENNIAL, Colo., Oct. 10, 2022 /PRNewswire/ -- NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB) (OTCQX:NIOBF) is pleased to announce that CEO and Executive Chairman Mark Smith will present on its Elk Creek Critical Minerals Project (the "Project") at the 2022 International Scandium Symposium, which will take place at the Westgate Resort Hotel in Las Vegas on Thursday, October 20, 2022.
The conference will feature presentations from NioCorp, Rio Tinto, and other prospective scandium producers from around the world. Information on the conference can be seen here: https://metalevents.com/events/international-scandium-symposium
Mr. Smith's presentation, entitled "Nebraska Scandium: American-Made and Climate-Smart," begins at 1 p.m. Eastern and will be followed by a question-and-answer period with the conference audience. Presentations at the conference will not be broadcast live but are expected to be made available for video replay.
A panel discussion also will be held at 2:45 p.m. Eastern on October 20th, featuring Mr. Smith; Wagner Oliveira, General Manager, Strategic Resource, Development and Mine Technical Services, Rio Tinto Iron and Titanium Canada; Nils Backeberg, Founder & Director, Project Blue, South Africa; and a representative from Traxys North America ("Traxys").
Subject to the receipt of necessary project financing and commencement of operations, the Project in southeast Nebraska positions the Company to emerge as a large prospective U.S. producer of scandium, with an estimated average production of 104 tonnes per year of Scandium over the Project's 38-year mine life.
NioCorp has executed a commercial sales agreement with Traxys for up to 120 tonnes of scandium trioxide over the first 10 years of operation of NioCorp's planned production, subject to the receipt of necessary project financing and commencement of operations at the Project. The NioCorp-Traxys scandium contract is thought to be the largest single offtake agreement for scandium ever executed.
NioCorp is currently operating a demonstration plant in Quebec, Canada to test the technical feasibility of a simplified process for producing niobium, scandium, and titanium, as well as extracting and separating high-purity Neodymium-Praseodymium ("NdPr") Oxide, Dysprosium Oxide, and Terbium Oxide.
Qualified Persons
Scott Honan, M.Sc., SME-RM, COO of NioCorp Developments Ltd., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in the news release.
For More Information:
Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., 720-639-4650, jim.sims@niocorp.com
@NioCorp $NB.TO $NIOBF $BR3 Niobium Scandium rareearth neodymium dysprosium terbium ElkCreek EV electricvehicle
About NioCorp
NioCorp is developing a critical minerals project in Southeast Nebraska that will produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of Neodymium-Iron-Boron ("NdFeB") magnets, which are used across a wide variety of defense and civilian applications.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this document may constitute forward-looking statements, including but not limited to statements related to the Company's expectations that the Project will reach production stage if it is able to secure project financing, and its ability to produce its planned products commercially, including potential production of rare earths. Such forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp's plans or prospects to change include risks related to NioCorp's ability to operate as a going concern; NioCorp's requirement of significant additional capital; NioCorp's limited operating history; NioCorp's history of losses; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; current and future offtake agreements, joint ventures, and partnerships; NioCorp's ability to attract qualified management; the effects of the COVID-19 pandemic or other global health crises on NioCorp's business plans, financial condition and liquidity; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; potential future litigation; NioCorp's lack of insurance covering all of NioCorp's operations; and the risks set forth in the Company's filings with the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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