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NioCorp Plans to Produce Made-in-USA Scandium Master Alloy to Supply Lightweight Parts to Vehicles
NioCorp Now Working With Automakers To Develop Aluminum-Scandium Vehicle Parts That Are Stronger, Lighter, Higher-Performing, and Fully RecyclablePrototype
About this update from Niocorp Developments Ltd.
[{"type":"text","content":"NioCorp Now Working With Automakers To Develop Aluminum-Scandium Vehicle Parts That Are Stronger, Lighter, Higher-Performing, and Fully RecyclablePrototype Aluminum-Scandium Alloy Parts Have Dual Uses in Commercial and Military ApplicationsEV/Hybrid Sales Forecasts Predict Tens of Millions of Units Globally By 20301, Underscoring the Importance of Bringing New Sources of Non-Chinese and Non-Russian Scandium Supply Online, NioCorp SaysCENTENNIAL, CO / ACCESSWIRE / September 28, 2023 / NioCorp Developments Ltd. (\"NioCorp\" or the \"Company\") (NASDAQ:NB)(TSX:NB) plans to make aluminum-scandium master alloy product (\"Al-Sc MA\") from mining and upgrade facilities to be located in the U.S., subject to, among other matters, receipt of project financing and consummation of mining operations at the Elk Creek Project, which could enable commercial and defense manufacturers to replace select existing aluminum parts in vehicles. Aluminum alloys containing scandium offer high-strength, corrosion-resistant, weldable alternatives to existing aluminum options and deliver significant property improvements and light-weighting opportunities, particularly in transportation applications. Military and strategic applications are expected to be significant as well.Scandium is one of several strategic metal products that NioCorp plans to make from its Elk Creek Critical Minerals Project (the \"Project\") in Nebraska, USA, contingent on, among other matters, obtaining sufficient project financing. Once in commercial operation, the scandium component from this mine could potentially position NioCorp as one of the largest producers of Al-Sc MA in the world. Still, more scandium production would need to come online in both North America and Europe, if more than a small handful of manufacturers are to benefit from these high-performance aluminum alloy variants.\"Our planned scandium oxide and master alloy production could be large enough to enable manufacturers to supply aluminum-scandium alloy parts to electric and/or conventional vehicles. As recent forecasts from Morningstar1 and others predict, EV and hybrid sales are expected to grow into the tens of millions per year over the next decade and longer,\" according to NioCorp's CEO and Executive Chairman Mark Smith. \"This is one of the reasons the U.S. Government designated scandium as a critical mine...