NioCorp Applauds White House and EXIM For Bold "Project Vault" Initiative

Rhea-AI Summary

NioCorp (NASDAQ:NB) applauded the White House and EXIM for launching Project Vault, a proposed $12 billion U.S. Strategic Critical Minerals Reserve anchored by $11 billion from EXIM and about $1.67 billion in industry seed capital. The initiative aims to procure, store, and sell critical minerals to U.S. manufacturers.

The release cites the Commerce Department's Section 232 findings and a January 14 Presidential Proclamation authorizing trade measures to reduce reliance on foreign-processed critical minerals. NioCorp said it stands ready to advance the Elk Creek Project to supply American-made materials.

Positive

• EXIM committed $11 billion to Project Vault
• Industry seed capital contributed approximately $1.67 billion
• Project Vault aims to create a U.S. Strategic Critical Minerals Reserve
• NioCorp signals readiness to advance the Elk Creek Project to supply U.S. manufacturers

Negative

• Presidential Proclamation authorizes tariffs and minimum import prices, introducing potential market and policy uncertainty

Key Figures

Project Vault size: $12 billion EXIM commitment: $11 billion Private seed capital: $1.67 billion +5 more

8 metrics

Project Vault size $12 billion Total proposed U.S. Strategic Critical Minerals Reserve initiative

EXIM commitment $11 billion Export-Import Bank funding anchor for Project Vault

Private seed capital $1.67 billion Seed capital from participating U.S. companies for Project Vault

Section 232 finding date October 24, 2025 Commerce Department critical minerals national security finding

Presidential Proclamation date January 14 Follow-on proclamation enabling trade and tariff measures

Price move 21.75% NB 24h price change prior to this news

52-week range $1.59–$12.58 NB 52-week low and high before this announcement

Market cap $757,502,420 NB market capitalization before the news

Market Reality Check

Price: $6.67 Vol: Price up 21.75% to $7.50 ...

normal vol

$6.67 Last Close

Volume Price up 21.75% to $7.50 with volume 9,143,245 vs 20-day avg 7,002,268 (relative volume 1.31). normal

Technical Trading above 200-day MA at $4.92, after a strong move from the $1.59 52-week low.

Peers on Argus

NB gained 21.75%, outpacing peers: LZM down 0.56%, while TMQ, WRN, NAK, and UAMY...

NB gained 21.75%, outpacing peers: LZM down 0.56%, while TMQ, WRN, NAK, and UAMY rose 9.58%, 5.71%, 5.12%, and 17.68% respectively, suggesting a company-specific reaction to the U.S. policy news.

Historical Context

5 past events · Latest: Jan 14 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 14	Year-in-review update	Positive	+2.3%	Outlined 2025 progress on financing, EXIM review, drilling, and Elk Creek readiness.
Jan 12	Preliminary results	Positive	+9.5%	Reported record <b>$307M</b> cash and DoD funding for Elk Creek activities.
Dec 22	Mine portal approval	Positive	-0.7%	Board approved Mine Portal Project with estimated <b>$44.6M</b> capital cost.
Dec 11	Town hall support	Positive	+2.7%	Nebraska town halls showed resident and political support for Elk Creek project.
Dec 08	Conference participation	Positive	+1.8%	Announced virtual conference presentation on Elk Creek and onshoring minerals.

Pattern Detected

Recent Elk Creek and financing updates generally saw positive price reactions, with only the mine portal construction approval showing a slight divergence.

Recent Company History

Over the past few months, NioCorp highlighted steady progress at the Elk Creek Critical Minerals Project, including town hall support, conference visibility, and Board approval of a Mine Portal Project with an estimated $44.6 million capital cost. Financing advanced through substantial equity raises and EXIM review progress, while preliminary results showed a record $307 million cash balance. Today’s White House/EXIM “Project Vault” news fits the theme of growing federal engagement with domestic critical minerals supply.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-10-10

An effective Form S-3ASR shelf dated 2025-10-10 allows NioCorp to offer common shares, warrants, debt securities, and units. It includes a redemption feature for certain assumed warrants at $0.01 per warrant if the share price equals or exceeds $16.10 for 20 trading days within a 30-day period, and has been used in offerings documented by 424B5 and 424B7 filings.

Market Pulse Summary

This announcement ties NioCorp to the White House and EXIM’s proposed $12 billion Project Vault init...

Analysis

This announcement ties NioCorp to the White House and EXIM’s proposed $12 billion Project Vault initiative, emphasizing U.S. efforts to build a Strategic Critical Minerals Reserve. It reinforces the company’s narrative of benefiting from federal support for domestic supply chains, complementing prior EXIM review progress and Department of Defense funding. Investors may watch how Project Vault is implemented, what procurement mechanisms emerge, and how NioCorp’s Elk Creek Project features in future government-industry partnerships.

Key Terms

section 232, presidential proclamation, tariffs, critical minerals

4 terms

section 232 regulatory

"Coupled with the Trump Administration's recent Section 232 findings and January 14..."

A provision of U.S. trade law that lets the government review whether certain imports threaten national security and, if they do, impose measures such as tariffs, quotas or restrictions. For investors, it matters because these actions can suddenly raise costs, disrupt supply chains, or shield domestic producers—like a safety valve that can change competitive dynamics and profit outlooks for companies tied to affected imports.

presidential proclamation regulatory

"recent Section 232 findings and January 14 Presidential Proclamation..."

A presidential proclamation is an official announcement or declaration issued by a country's president that establishes policy, recognizes an event, or triggers legal or administrative actions. Investors pay attention because such proclamations can change trade rules, open or restrict markets, impose or lift sanctions, or signal shifts in policy—similar to a CEO announcing a new company direction but on a national scale that can alter risk and opportunity across sectors.

tariffs regulatory

"authorizes the President to pursue negotiated trade measures, tariffs, minimum import prices..."

Tariffs are taxes imposed by a government on goods imported from other countries. They increase the cost of those goods, which can lead to higher prices for consumers and impact international trade. For investors, tariffs matter because they can influence the profitability of companies, affect supply chains, and shift economic stability across different regions.

critical minerals technical

"reduce its dependence on foreign-produced critical minerals..."

Materials needed to build modern technologies—like batteries, electronics, renewable energy systems and defense equipment—that have few easy substitutes and often come from a small number of countries or mines. Investors care because their supply can be disrupted, expensive or slow to increase, which affects the cost, availability and growth prospects of companies and industries that rely on them; think of them as critical spare parts for the global economy.

AI-generated analysis. Not financial advice.

The Administration's Proposed $12 Billion "Project Vault" Breaks New Ground in the Effort to Empower the U.S. To Reduce its Dependence on Foreign-Produced Critical Minerals

CENTENNIAL, CO / ACCESS Newswire / February 4, 2026 / NioCorp Developments Ltd. ("NioCorp," "our," or the "Company") (NASDAQ:NB), a leading U.S. critical minerals developer, today applauded the launch by the White House and the Export-Import Bank of the United States ("EXIM") of "Project Vault," a ground-breaking effort to establish a U.S. Strategic Critical Minerals Reserve (the "Reserve") to procure, store, and enable the sale of critical minerals to American manufacturers.

The government-industry partnership is anchored by $11 billion from EXIM and approximately $1.67 billion in seed capital from some of the nation's leading companies, such as General Motors, Stellantis, Boeing, Corning, GE Vernova, and Google. Metals trading firm Traxys will play a key enabling role in the Reserve.

"This effort represents exactly the kind of bold and innovative public-private partnership that the U.S. needs right now to facilitate the rapid build-out of domestic critical minerals production and integrated supply chains," said Mark A. Smith, Chairman and CEO of NioCorp. "I commend President Trump and EXIM Chairman John Jovanovic for their vision."

"Coupled with the Trump Administration's recent Section 232 findings and January 14 Presidential Proclamation (see this), the Administration is signaling that it intends to move rapidly and aggressively to address excessive U.S. reliance on imported processed critical minerals and derivative products," Mr. Smith said.

The Commerce Department's Section 232 investigation, which concluded on October 24, 2025, found that heavy reliance on foreign processed critical minerals threatens national security, citing supply chain vulnerabilities, import dependence, and price volatility. The follow-on Presidential Proclamation authorizes the President to pursue negotiated trade measures, tariffs, minimum import prices, and other measures to combat price and market manipulation by foreign governments and incentivize domestic production.

"Breaking China's dominance over critical minerals is essential to America's economic and national security future," Mr. Smith added. "We appreciate the Administration's leadership and EXIM's commitment to practical solutions that strengthen U.S. manufacturers and critical minerals producers. NioCorp stands ready to do its part by advancing the Elk Creek Project and supplying American-made critical materials to help power the next generation of U.S. industry."

# # #

FOR MORE INFORMATION:

Jim Sims, Corporate Communications Officer, NioCorp Developments Ltd., (720) 334-7066, jim.sims@niocorp.com

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527,aguthrie@niocorp.com

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy 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 magnets, which are used across a wide variety of defense and civilian applications.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements may include, but are not limited to, statements regarding shifts in the policy environment, objectives, expectations and actions of the U.S. government; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's confidence in and ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation, as well as efforts and expenditures relating to the same. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including Al-Sc alloy; and the stability of the financial and capital markets. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of War; NioCorp's ability to receive a final commitment of financing from EXIM or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; 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; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; 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, development or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; 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; the infringement or loss of NioCorp's intellectual property rights; potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

SOURCE: NioCorp Developments Ltd.

View the original press release on ACCESS Newswire

FAQ

What is Project Vault and how much funding was announced for the Reserve (NB)?

Project Vault is a proposed U.S. Strategic Critical Minerals Reserve backed by about $12 billion. According to the company, the initiative includes $11 billion from EXIM and roughly $1.67 billion in industry seed capital to procure and store critical minerals.

How does Project Vault affect NioCorp (NASDAQ:NB) and Elk Creek plans?

NioCorp said Project Vault could support domestic supply for Elk Creek and similar projects. According to the company, it stands ready to advance Elk Creek to supply American-made critical materials to U.S. manufacturers.

What government actions accompanied Project Vault on February 4, 2026 (NB)?

The announcement followed Commerce Section 232 findings and a January 14 Presidential Proclamation. According to the company, those actions authorize trade measures like tariffs and minimum import prices to reduce import reliance.

Which industry partners provided seed capital for Project Vault and how much (NB)?

Major companies contributed approximately $1.67 billion in seed capital to Project Vault. According to the company, participating firms include General Motors, Stellantis, Boeing, Corning, GE Vernova, Google, and metals trader Traxys.

Could Project Vault change U.S. dependence on foreign critical minerals and what is the timeline (NB)?

Project Vault is intended to reduce U.S. dependence on foreign-processed critical minerals by procuring and storing domestic supply. According to the company, the effort is a rapid public-private initiative, though specific implementation timelines were not provided.