NioCorp subsidiary awarded funding to advance the Elk Creek project in Nebraska.
The U.S. Department of Defense (DoD) has awarded $10 million to Elk Creek Resources Corporation (ECRC), a wholly owned subsidiary of NioCorp Developments, to advance its Elk Creek scandium, niobium, and titanium project in Nebraska. The funding will support further exploration, engineering, and testing work.
Scandium alloys are becoming increasingly crucial in defense applications as well as in the aerospace industry due to their lightweight and high-strength characteristics. They are often used to replace titanium and aluminum alloys in military systems, Dr. Vic Ramdass, Acting Assistant Secretary of Defense for Industrial Base Policy, said. Despite scandium’s growing relevance, nearly all global production currently comes from China, and the last recorded U.S. scandium mining activity occurred in 1969, according to the U.S. Geological Survey. In addition to scandium, the focus at Elk Creek also lies on ferroniobium and titanium dioxide production.
A June 2022 feasibility study estimated that Elk Creek could produce approximately 7,300 tons of ferroniobium per year as its primary product, along with 102 tons of scandium trioxide and 12,000 tons of titanium dioxide annually over its 38-year mine life. The company is also evaluating the potential to extract rare earth elements from the site, including neodymium-praseodymium oxide, dysprosium oxide, and terbium oxide.
This investment is part of the Department of Defense’s broader effort to strengthen domestic supply chains for critical minerals. In July, it awarded $6.2 million to a tungsten project in Nevada. In May, Perpetua Resources received $6.9 million for its antimony-gold project in Idaho.
Photo: iStock/SeventyFour