NioCorp and Stellantis Sign Rare Earth Term Sheet for Possible Supply Deal
06 Juli 2023 - 6:42PM
Dow Jones News
By Robb M. Stewart
NioCorp Developments is looking to secure a 10-year deal to
supply rare earth materials to automaker Stellantis.
The companies on Thursday said they signed a term sheet and are
seeking to enter a contract for neodymium-praseodymium oxide,
dysprosium oxide and terbium oxide that NioCorp plans to produce at
its Elk Creek minerals project in southeast Nebraska. The supplies
would support efforts by Stellantis to secure its supply chain and
reach a carbon net zero target by 2038.
Final volumes will be set in a definitive agreement, the
companies said.
NioCorp is developing its Elk Creek project to produce niobium,
scandium and titanium, and is evaluating the potential to produce
several rare earths that are used in a variety of defense and
civilian applications. The company said that as no economic
analysis has been completed on the rare earth mineral resource that
comprise the Elk Creek project, further studies are needed before
determining whether mining can be reasonably justified and is
economically viable.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
July 06, 2023 12:27 ET (16:27 GMT)
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