NioCorp Developments Ltd.is pleased to announce that it has secured an agreement with a southeastern Nebraska landowner to extend the Company’s purchase option on 266 acres of land where it plans to conduct underground mining and mineral processing operations as part of its proposed Elk Creek Superalloy Materials Project (the “Project”), once sufficient project financing is obtained.
Over the last six months, NioCorp has secured eight extensions of purchase option agreements covering 1,499 acres of land in southeast Nebraska. The Company now holds a total of 15 option-to-purchase agreements covering 2,817 acres, or 4.4 square miles, associated with the Project. In the event that sufficient project financing is obtained, the Company intends to purchase land parcels as required by the construction schedule of its proposed Project.
“We have now secured purchase option agreement extensions on all of the privately owned land parcels that are critical to construction of our mine and primary processing facilities,” said Scott Honan, President of Elk Creek Resources Corp. and Vice President of Business Development for NioCorp. “Nebraska landowners are long and strong partners with us in this Project, and we very much appreciate the mutually beneficial relationships that we have developed with so many people across southeast Nebraska.”
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys 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 superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.