Nebraska’s U.S. Senator Deb Fischer and Congressman Don Bacon Secure $10 Million in Federal Funding for U.S. Aluminum-Scandium Master Alloy Production

Increased Congressional Focus on AlSc Master Alloy Coincides with NioCorp's Phased Commercialization Program for AlSc Master Alloy Production in the U.S.

NioCorp's Pilot-Scale AlSc Master Alloy Effort Has Successfully Produced Scandium Metal and is on Track to Make Initial AlSc Master Alloy Ingots in the Coming Weeks

CENTENNIAL, CO / ACCESSWIRE / August 9, 2023 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB)(TSX:NB) is praising U.S. Senator Deb Fischer (R-NE) and U.S. Rep. Don Bacon (R-NE) for securing legislation in both the House and Senate versions of the FY2024 National Defense Authorization Act regarding the strategic importance of scandium, as well as securing $10 million in federal funding to support commercial production of aluminum-scandium ("AlSc") master alloy production in the U.S.

Foto: Accesswire

"Through their positions in the Senate and House Armed Services Committees, Senator Fischer and Congressman Bacon are recognized as national leaders in U.S. defense policy in the Congress," said Mark A. Smith, CEO and Executive Chairman of NioCorp. "They understand the strategic importance of establishing a domestic supply chain for scandium and aluminum-scandium alloys and their prospective importance to defense and essential civilian technologies."

"On behalf of the many thousands of Nebraskans who are stakeholders and supporters of the Elk Creek Critical Minerals Project in southeast Nebraska, I want to thank Senator Fischer and Congressman Bacon for championing the scandium and aluminum-scandium master alloy that we intend to produce in Nebraska," he added. "Through the Elk Creek Project, once sufficient project funding is obtained, Nebraska may very well become a leading scandium producer and could be in a position to help the U.S. Armed Forces take full advantage of the revolutionary performance benefits that scandium can deliver to air-, land-, and sea-based systems."

In addition to pursuing construction and eventual commercial operations of the Elk Creek Critical Minerals Project (the "Elk Creek Project") once sufficient project funding is obtained, NioCorp is also currently engaged in a phased commercialization effort to establish production of AlSc master alloy in the U.S.

The addition of scandium to aluminum alloys produces a much stronger alloy that reduces weight, increases strength and corrosion resistance, and makes the material weldable in transportation, aerospace, defense, and other systems. AlSc master alloy, which generally contains 98% aluminum and 2% scandium, is used to introduce scandium into aluminum for the purpose of producing AlSc alloys, which generally contain a fraction of a percent scandium by weight. NioCorp's goal is to demonstrate the ability to make AlSc master alloy containing 2% scandium by weight and as much as 10% scandium by weight.