NioCorp's Mark Smith to Appear on Bloomberg TV on Saturday, August 30, at 7 PM ET

Rhea-AI Summary

NioCorp Developments (NASDAQ:NB) announced that Chairman and CEO Mark A. Smith will appear on Bloomberg TV's Small Stocks, Big Money™ show on Saturday, August 30, at 7 PM ET. During the pre-recorded interview, Smith discusses the company's $1.14 billion Elk Creek Critical Minerals Project in Nebraska.

Smith highlighted the recent $10 million Department of Defense award to support establishing a domestic scandium supply chain. The Elk Creek Project aims to produce niobium, scandium, titanium, and potentially rare earth oxides for clean energy, aerospace, and defense applications. Smith emphasized that the project could make the U.S. a leading global scandium producer, potentially producing more scandium than current worldwide production.

Positive

• Received $10 million award from Department of Defense for scandium supply chain development
• Project has strong government support from both DoD and US Export Import Bank
• Elk Creek Project could become world's largest scandium producer
• Potential to establish complete domestic scandium supply chain from mining to manufacturing

Negative

• Project requires significant capital investment of $1.14 billion
• Currently in development phase with no active production

Insights

Critical Minerals Analyst

NioCorp receives $10M DoD funding for domestic scandium production, potentially positioning the U.S. as global leader in critical mineral supply chain.

NioCorp's $1.14 billion Elk Creek Critical Minerals Project has received $10 million in funding from the Department of Defense to establish America's first domestic scandium mine-to-manufacture supply chain. This represents a significant development in U.S. critical minerals strategy, as the country currently imports 100% of its scandium needs.

The DoD funding highlights the national security implications of the project, which could dramatically shift the global scandium market. CEO Mark Smith claims the Nebraska facility could produce more scandium than the entire current global output, potentially making the U.S. the "Saudi Arabia of scandium" – a powerful analogy for market dominance.

What makes this particularly significant is the vertical integration strategy being pursued. NioCorp plans to control the entire supply chain from mining raw ore to manufacturing finished parts for military and commercial applications, creating unprecedented leverage in trade negotiations with China and other producer nations.

The project's scope extends beyond scandium to include niobium, titanium, and potentially rare earth oxides – all critical materials for clean energy, aerospace, and defense sectors. The coordinated approach between the Department of Defense and the U.S. Export-Import Bank indicates high-level government prioritization of establishing domestic production capabilities for these strategic materials.

CENTENNIAL, CO / ACCESS Newswire / August 29, 2025 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) is pleased to announce that Chairman and CEO Mark A. Smith will appear on Bloomberg TV's Small Stocks, Big Money™ show this Saturday, August 30, at 7 p.m. ET. Bloomberg TV is available in an estimated 73 million homes across the U.S.

The pre-recorded interview can be seen here: https://www.youtube.com/watch?v=vwao9IpKOjk

In his appearance, Mr. Smith discusses the Company's Elk Creek Critical Minerals Project in Nebraska (the "Elk Creek Project"), a $1.14 billion underground critical minerals mine expected to produce niobium, scandium, titanium, and potentially rare earth oxides essential to clean energy, aerospace, and defense applications.

In commenting on the U.S. Department of Defense's recent $10 million award to 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 Project in southeast Nebraska, Mr. Smith said: "There is a whole of government approach working together right now where the Department of Defense and the US Export Import Bank both want this project to move forward. They're working together to make it happen. And that is really a wonderful aspect of this whole grant that we've gotten from the DoD … we can sit here as citizens of the United States and know that we have a whole of government action taking place with Elk Creek Resources."

Mr. Smith continued: "There is a very glaring national security risk that we have related to scandium in that we do not produce any here in the United States. We import 100% of what we need in the United States. And the good news with the Elk Creek mine, once it's constructed and once operations are up and running and we're producing scandium, is that we could become the Saudi Arabia of scandium. That's how big this mine is. This one mine, the Elk Creek mine, can produce more scandium than what is produced in the entire world today. We could become the scandium superpower of the world."

Mr. Smith added: "We're going to be providing more and more information on our desire to eventually build a full supply chain here in America that takes us from mining scandium to actually making parts that contain scandium in them. So we'll be taking the ore turning it into scandium oxide. We'll turn the scandium oxide into master alloy. We'll add it to additional aluminum to lower the amount of ultimate scandium in the product. We want to make actual parts that will be used by our military and by our commercial partners. So, this could be a whole buildout of the scandium supply chain from mine to parts. It's going to be a very big change for the United States. It's never existed in the nation. We're currently importing 100% of what we need for scandium. So this is going to change the way that that we can negotiate trade agreements with China and other countries as a result."

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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 #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing a critical minerals project in Southeast Nebraska that is expected to produce niobium, scandium, and titanium (the "Elk Creek Project"). 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. Forward-looking statements may include, but are not limited to, statements regarding NioCorp's belief that the U.S. government is pursuing a whole of government approach to supporting the Project; the Company's expectation that both EXIM and DoD support the Project; the ability of the Project to enable the U.S. to become "the Saudi Arabia of scandium" and "the scandium superpower of the world;" the Company's desire to eventually build a full supply chain in the U.S. that extends from scandium mining to making parts that contain scandium; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; 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 expectation that it will receive the full $10 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 Defense (the "DoD Agreement"); NioCorp's ability to service future debt, if any, and meet the payment obligations thereunder; and current estimates and assumptions regarding the benefit 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 or a debt guarantee from UK Export Finance on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10 million in reimbursement under the DoD Agreement; 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 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, 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 value of NioCorp's Elk Creek Critical Minerals Project?

The Elk Creek Project is a $1.14 billion underground critical minerals mine project in Nebraska.

How much funding did NioCorp (NASDAQ:NB) receive from the Department of Defense?

NioCorp's subsidiary Elk Creek Resources Corp received a $10 million award from the Department of Defense to support establishing a domestic scandium mine-to-manufacture supply chain.

What minerals will NioCorp's Elk Creek Project produce?

The Elk Creek Project is expected to produce niobium, scandium, titanium, and potentially rare earth oxides for clean energy, aerospace, and defense applications.

What is NioCorp's potential impact on global scandium production?

According to CEO Mark Smith, the Elk Creek mine could produce more scandium than the entire world's current production, potentially making the U.S. a global scandium superpower.

When will Mark Smith appear on Bloomberg TV?

NioCorp's Chairman and CEO Mark Smith will appear on Bloomberg TV's Small Stocks, Big Money™ show on Saturday, August 30, at 7 PM ET.