CENTENNIAL, Colo., Nov. 11, 2021 /PRNewswire/ -- NioCorp
Developments Ltd. ("NioCorp" or the "Company")
(TSX: NB; OTCQX: NIOBF) is pleased to announce that the
Nebraska Department of Environment and Energy ("NDEE") has
granted to NioCorp an extension until April
4, 2022 as to when construction must be initiated at the
Company's Elk Creek Superalloy Materials Project (the
"Project") under the current construction air permit.
The Project's construction air permit was issued by NDEE on
June 2, 2020, and requires that
"construction, reconstruction, or modification of the source" be
commenced within 18 months of the permit's issuance. The
six-month extension recently granted by NDEE was based on the date
of the Company's October 4, 2021,
request for such an extension.
"We very much appreciate the NDEE's granting of this extension,"
said Scott Honan, NioCorp's Chief
Operating Officer, "and we look forward to the onset of
construction-related activities at the Project site, in compliance
with the permit, once we have obtained sufficient project financing
to proceed."
@NioCorp $NB.TO $NIOBF #ElkCreek #niobium #scandium
#rareearth
For More Information:
Contact Jim Sims, VP of External
Affairs, NioCorp Developments Ltd., 303-503-6203,
jim.sims@niocorp.com
About NioCorp
NioCorp is developing a superalloy materials project in
Southeast Nebraska that will
produce Niobium, Scandium, and Titanium. Also under consideration
by the Company is the production of several magnetic rare earth
products. Niobium is used to produce superalloys 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 superalloy material 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 superalloys 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 news release may constitute
forward-looking statements, including statements regarding the
Company's anticipation of receiving sufficient financing necessary
to commence construction-related activities at the Project
site. 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 forward-looking statements 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 the Company's ability to operate as
a going concern; risks related to the Company's requirement of
significant additional capital; changes in demand for and price of
commodities (such as fuel and electricity) and currencies; changes
in economic valuations of the Project, such as Net Present Value
calculations, 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; and the risks
involved in the exploration, development and mining business and
the risks set forth in the Company's filings with Canadian
securities regulators at www.sedar.com and 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.