US officially declares all three superalloy metals from Nebraska project as “Critical Minerals”

NioCorp’s Elk Creek, Nebraska project has now emerged as one of the few greenfield projects in the US that plans to produce multiple critical minerals for which the America is currently 100% reliant on foreign nations such as China and Russia. The picture shows Nebraska Governor Pete Ricketts (right) touring the Elk Creek project.

The Trump Administration will officially designate as “Critical Minerals” the entire planned product suite of superalloy metals that NioCorp Developments Ltd proposes to mine and process at Elk Creek.

The designation establishes the project as one of the few polymetallic greenfield mining projects in the US 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 US is currently 100% dependent on foreign nations such as China and Russia.

Once placed into operation, the project also will position the State of Nebraska as a global leader in the production of Scandium, a lightweight and very strong metal that has been used for several decades in cutting-edge Soviet and Russian military technologies.  The US Armed Forces have been largely shut out from being able to incorporate Scandium in aerospace and other national defense systems because of a lack of available scandium supply.

In a Federal Register notice published on Thursday, May 17, 2018, the US Department of the Interior announced its intent to publish today (Friday, May 18) its final list of 35 critical minerals.  The list of priority minerals was developed in response to a White Houser Executive Order of December 20, 2017.

In addition to designating niobium, scandium, and titanium as critical minerals, the Trump Administration’s list also includes the rare earth elements, which were grouped as a single entry on the Critical Minerals list.  The Elk Creek orebody is known to be enriched in rare earth elements, although the company has no current plans to produce rare earth commercial products.

“This action by President Trump and Interior Secretary Zinke is very much welcomed and shows that they understand the strategic imperative of encouraging greater investment in critical mineral development in the U.S.,” said Mark A. Smith, NioCorp CEO and Chair.  “As a former Navy SEAL Commander with undergraduate degree in Geology, Secretary Zinke is especially cognizant of the need to decrease U.S. dependence on foreign sourcing of critical and strategic materials that are key to national defense technologies and to our warfighters.

“This action by the US Government establishes that the Elk Creek Project’s entire planned product suite is strategically vital to the U.S.,” Smith said.  “It provides a powerful differentiating factor for the Elk Creek Project.  It helps to set the Project apart from other proposed greenfield mining projects in the U.S.  It also will help this project attract additional attention from a variety of key stakeholders around the world, including major potential sources of project finance.”

NioCorp’s Elk Creek Project has completed a positive feasibility study.  The company is currently engaged in assembling a project finance package that, when secured, can move the project to a construction start as soon as possible.

  • Probable Reserves of 31.7 Mt of ore at 0.79% niobium (Nb2O5), 71.6 g/t scandium (Sc), and 2.81% TiO2
  • Indicated Mineral Resources are 90.9 Mt at 0.66% Nb2O5, 70 g/t Sc, and 2.59% TiO2
  • Inferred Mineral Resources of 133.6 Mt at 0.48% Nb2O5, 59 g/t Sc, and 2.23% TiO2
  • Deposit is open (unexplored) in three directions: to the northwest, southeast, and at depth.