US awards NioCorp unit $10 million to build scandium supply chain

NioCorp Developments

05/08/2025 13:49

** Shares of Canadian miner NioCorp NB.O rise 3% to $3.42 premarket

** U.S. Department of Defense awards $10 million to Elk Creek Resources, a unit of NB, to develop the country's first domestic scandium supply chain

** The funding will support engineering, drilling and feasibility studies which targets near-term production of scandium, niobium and titanium, key materials for defense aerospace systems

** As of last close, shares are up 114.2% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))