NioCorp Can Make America the "Saudi Arabia of Scandium," CEO Mark Smith Tells Fox Business' Maria Bartiromo

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NioCorp Developments (NASDAQ:NB) CEO Mark Smith appeared on Fox Business News' "Mornings with Maria" to discuss the company's Elk Creek Critical Minerals Project in Nebraska. Smith highlighted that the project could make America the "Saudi Arabia of Scandium," with production capacity exceeding current global output.

The interview followed a significant announcement of a $10 million Defense Production Act agreement with the U.S. Department of Defense to support establishing a domestic scandium mine-to-manufacture supply chain. Smith praised the current administration's critical minerals policies, particularly the price floor guarantees aimed at countering Chinese market dominance.

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• None.

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• Project still in proposed stage, not yet operational
• Heavy dependence on government support and price guarantees

Mr. Smith Says President Trump's Critical Minerals Policies are "Smart and Brave," Especially in Terms of Proposing Critical Minerals Price Supports

CENTENNIAL, CO / ACCESS Newswire / August 6, 2025 / In a live appearance today (https://www.foxbusiness.com/video/6376620692112) on the Fox Business News program "Mornings with Maria," host Maria Bartiromo asked Mark Smith, Chairman and CEO of NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB), about the possibility of America emerging as a global "scandium superpower" as a result of NioCorp's proposed Elk Creek Critical Minerals Project (the "Project") in southeast Nebraska.

"Maria, the potential here is that America can become the Saudi Arabia of Scandium," Mr. Smith said. "That is how much we can produce. A single mine in the State of Nebraska can produce more scandium than is produced in the entire world today. That is our capability."

"Much like niobium increases the strength of steel, scandium increases the strength of aluminum when you alloy them together. You end up with a lighter material, a much stronger alloy with much higher yield strength, very corrosion resistant, and weldable. Those are very important aspects for fighter jets, submarines, and for satellites." It lowers the weight which allows for large payloads for these devices. This is very important from a defense standpoint."

"The way we win the race against China is exactly how President Trump is doing it now," Mr. Smith said. "They are providing price floor guarantees for these minerals. That takes away the normal Chinese routine of taking 100% of the market share, allowing prices to rise, and then as soon as anyone else wants to come into the space, they drop prices so that no one can get project financing. Price floor supports take that issue away and the normal M.O. for the Chinese industrial system is no longer going to be effective."

"That is brilliant and I can't thank the White House enough for being smart enough and brave enough to do this," Mr. Smith added.

The interview followed yesterday's announcement by the U.S. Department of Defense of a $10 million agreement via Title III of the Defense Production Act ("DPA") with NioCorp's operating subsidiary Elk Creek Resources Corp. to support the establishment of a domestic scandium mine-to-manufacture supply chain via the Elk Creek Critical Minerals Project (the "Project") in southeast Nebraska.

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FOR MORE INFORMATION:

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

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

ABOUT NIOCORP

NioCorp is developing a critical minerals project in Southeast Nebraska (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 NioCorp's expectation that the DoD other transaction agreement will help the company establish the first domestic scandium mine-to-master-alloy supply chain, assist in the development qualification, and deployment of aluminum-scandium alloy components into defense aerospace systems, and will accelerate consideration of up to $800 million in debt financing to niocorp by the U.S. Export-Import bank in a "whole of government" approach to critical minerals development; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; the possibility that Niocorp could be fastest to market with heavy rare earth products; and NioCorp's ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation. 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 and development of the Elk Creek Project on acceptable terms or at all; the future price of metals; the stability of the financial and capital markets; NioCorp's ability to service future debt, if any,and meet the payment obligations thereunder; and current estimates and assumptions regarding the benefits of NioCorp's business combination with GX Acquisition Corp. II (the "Business Combination") and the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement" and, together with the Business Combination, the "Transactions") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP, and their benefits. 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 ability to operate as a going concern; 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 receive a final commitment of financing from the Export-Import Bank of the United States, an other transaction agreement from the U.S. Department of Defense or a debt guarantee from UK Export Finance on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to recognize the anticipated benefits of the Transactions, including NioCorp's ability to access the full amount of the expected net proceeds under the Yorkville Equity Facility Financing Agreement; NioCorp's ability to continue to meet Nasdaq listing standards; 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, or the Yorkville Equity Facility Financing Agreement 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 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; 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 industry; 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, or development 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; 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 the significance of NioCorp's $10 million Defense Production Act agreement?

The agreement supports establishing a domestic scandium mine-to-manufacture supply chain through NioCorp's Elk Creek Project in Nebraska, reducing dependence on foreign suppliers.

How much scandium can NioCorp's Elk Creek Project produce?

According to CEO Mark Smith, the Nebraska facility can produce more scandium than the entire world's current production.

What are the military applications of scandium mentioned by NioCorp (NASDAQ:NB)?

Scandium is used to create stronger, lighter aluminum alloys that are corrosion resistant and weldable, crucial for fighter jets, submarines, and satellites.

How does NioCorp plan to compete with China in the scandium market?

NioCorp benefits from U.S. government price floor guarantees that prevent Chinese market manipulation through price drops, enabling project financing.

Where is NioCorp's Elk Creek Critical Minerals Project located?

The project is located in southeast Nebraska, United States.