NioCorp Developments Ltd said that the Nebraska Department of Environment and Energy (NDEE) has advised the company that extensions of the Elk Creek Project's construction air permit are no longer required because the company has met the regulatory definition of "construction, reconstruction, or modification of the source" since the permit was issued.
The company said this development further de-risks the project from a regulatory perspective.
"I want to thank the NDEE for their professionalism and attention to detail throughout the permitting process," Scott Honan, NioCorp's chief operating officer said in a statement. "We very much look forward to ramping up our construction activity at the site as soon as possible once we secure sufficient financing."
READ: NioCorp reports significant advancements in processing critical minerals in Nebraska
NioCorp's air construction permit was issued by the NDEE in June 2020. NDEE granted NioCorp a four-month extension in November 2021.
After consulting last week with NDEE officials, NioCorp provided a notice to the NDEE that the company noted that it has satisfied the Department's applicable regulatory criteria based upon the following factors:
- NioCorp has contracted with the project's two primary Engineering, Procurement, and Construction (EPC) contractors: Zachry Group of San Antonio, Texas, and Cementation USA Inc, based in Sandy, Utah
- NioCorp has contracts in place for the sale of much of the critical minerals it expects to produce
- NioCorp has purchased the key piece of property needed for the Project
- NioCorp has installed perimeter fencing and security systems around the Project
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.
Contact the author at jon.hopkins@proactiveinvestors.com