CENTENNIAL, Colo. November 5, 2019 – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX: NB; OTCQX: NIOBF) is pleased to announce the selection of several key contractors — Olsson, DuPont Clean Technologies, and Veolia — to work on the proposed Elk Creek Superalloy Material Project (the “Project”).
The development of the Project will require significant additional capital above what NioCorp has raised to date, and the Company anticipates that any significant work on the Project pursuant to agreements that may be reached with Olsson, DuPont Clean Technologies and/or Veolia will be contingent on obtaining sufficient Project financing, if and when available.
Olsson will continue their engagement around project permitting, NioCorp announced, with personnel based in their Lincoln, Omaha and Denver offices. Olsson has led state and federal permitting efforts for the Project since 2014, including NioCorp’s current effort to obtain a Nebraska Construction Air Permit for the Project. Their previous work on the Project included civil engineering, geotech analysis, successful navigation of Army Corps of Engineer permitting programs (Sections 404 and 408 permits), and National Pollutant Discharge Elimination System (NPDES) permitting. For more information on Olsson, please go here: https://www.olsson.com
“Our relationship with Olsson spans more than five years, and their hard-working team of engineers, scientists and permitting experts has demonstrated an excellent capability of getting things done with the regulatory agencies in Nebraska,” said Mark A. Smith, CEO Executive Chair of NioCorp. “Olsson’s work is consistently of the highest quality, and we can attribute the fact that the Elk Creek Project already has obtained all the major federal permits needed for construction to Olsson’s tireless efforts on our behalf.”
DuPont Clean Technologies has been selected by NioCorp to conduct engineering and procurement activities related to the Project’s sulphuric acid recycling plant. Subject to execution of a formal contract, DuPont Clean Technologies will primarily provide MECS® Air Pollution control solutions for mining operations, in order to drastically reduce emissions. The Clean Technologies division of DuPont is a global leader in process technology licensing and engineering, offering MECS® critical process equipment, products and services to minimize emissions for the sulfuric acid industry. For more information on DuPont Clean Technologies and MECS® technologies, please go here: http://cleantechnologies.dupont.com/industries/sulfuric-acid/
Finally, Pennsylvania-based Veolia Water Technologies has been selected by NioCorp to conduct engineering and procurement activities related to the Project’s water treatment plant, subject to execution of a formal contract. Veolia Water Technologies is a global leader in water and wastewater treatment with more than 160 years of experience. As a specialized provider of technological solutions and services, from Engineering and Procurement to standard systems, Veolia applies process expertise and industry knowledge to respond to the needs of industrial clients and municipalities. When designing solutions, the focus is always on the customer’s specific goals, which may include low operating costs, energy and water conservation, an optimized design for an existing footprint, or valuable resource or product recovery. For more information on Veolia Water Technologies, please go here: http://veoliawatertech.com
For more information on NioCorp’s proposed Elk Creek Superalloy Materials Project, please go here: https://www.niocorp.com
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NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. 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 also is 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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this document may constitute forward-looking statements, including but not limited to NioCorp’s ability to secure significant additional capital, NioCorp’s ability to execute formal contracts with each of the contractors listed in this news release, and NioCorp’s ability to obtain necessary permits for the Project. Such forward-looking statements are based upon NioCorp’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions 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 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, except as required by law.