NioCorp Developments Ltd. is a U.S.-based mineral development company focused on developing several critical minerals from the proposed Elk Creek, Nebraska Critical Minerals Mine. This Project is one of the few pure-play critical minerals projects in the U.S. that has completed a positive definitive feasibility study, has already secured key U.S. federal permits, and enjoys strong state and local support.
- NioCorp Developments Ltd. is developing The Elk Creek Project, a very large underground deposit in southeast Nebraska that is rich in Niobium, Scandium and Titanium – superalloy metals that have all been designated as “critical minerals ” by the U.S. Government.
- Niobium is relatively scarce – there are only 3 primary Niobium mines in the world today – but growing demand has created a global market value of >$2 billion.1
- Niobium is considered so critical by the U.S. that it is one of a small handful of metals that the National Defense Stockpile purchases.2
- Increases in U.S. defense spending, infrastructure re-building, and transportation light-weighting efforts, all of which use Niobium, Scandium, and Titanium, are expected to increase demand for NioCorp’s products.
- NioCorp plans to produce the following commercial products from Elk Creek:
- Ferroniobium (FeNb): Used in mega-steel infrastructure projects, oil and gas pipelines, vehicles, commercial aviation, aerospace, and defense systems.
- Scandium Trioxide (Sc2O3): Added to high-performance aluminum alloys used in the transportation, defense, commercial aviation and other industries.
- Titanium Dioxide (TiO2): Used in commercial and defense markets, including pigments, thin films, cosmetics, aircraft, armor, ships and other equipment.
1 Source: Roskill 2017 report.
2 Source: DoD Strategic and Critical Materials reports.
- The Elk Creek Project is the highest-grade primary Niobium resource in North America, and the only such resource under development in the U.S. Additional market opportunities are available from a co-product (Scandium) and a byproduct (Titanium).
- The Company’s three products are valuable superalloy additives used in large, diverse end markets, including transportation, aerospace and defense, oil and gas, advanced manufacturing, and steel mega-structures. Niobium has a global market value of over $2 billion.1
- All three of NioCorp’s planned products have been determined to be “Critical Minerals” by the U.S. Government.2
- The Elk Creek Project has already secured key federal and state permits required for the onset of construction.
- Much of our planned production over the first 10 years is pre-sold
- 100% of the Project’s projected FeNb production over the first 10 years of production is under sales contract or a Letter of Intent.
- 50% of FeNb production to ThyssenKrupp enables in-principle eligibility for a German Government Loan Guarantee of > $146M-$179M.3
- 12% of average annual scandium production over first 10 years has been sold to Traxys North America, a global leader in specialty metals.
- The Project features highly attractive economics:4
- 36-year mine life with 2.86-year after-tax payback period from production.
- Pre-tax Net Present Value (“NPV”) of $2.56 billion and Internal Rate of Return (“IRR”) of 27.3%; after-tax NPV of $2.1 billion and IRR of 25.8%5
- Average annual EBITDA of $370 million over Life of Mine (“LoM”); average EBITDA margin over LOM of 67%6
- We have a seasoned management team led by veterans with decades of experience developing and operating mines and advanced materials facilities.
1 Source: Roskill 2017 report.
2 Federal Register notice of May 18, 2018.
3 Receipt of such a loan guarantee is subject to final approval and other conditions.
4 Source: 2019 Elk Creek Project Feasibility Study.
5 Assumes an 8% discount rate.
6 See these disclaimers on the use of non-GAAP references.
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