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 /CNW/ -- 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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SOURCE NioCorp Developments Ltd.
