(KLZA)--NioCorp Developments has announced that the Company took another step this week to advance its application for up to $800 million in potential debt financing to be supported by the Export-Import Bank of the U.S. to advance its proposed critical minerals project in Southeast Nebraska.

According to a release, NioCorp executed a professional services agreement with SLR Consulting to conduct an independent environmental and social review.

In February 2025, SLR was selected to conduct an independent technical review of the Elk Creek Project, which is ongoing. SLR will now conduct both the independent technical review and the Environmental and Social review on behalf of the Bank.

NioCorp's application for EXIM funding of the Elk Creek Project passed EXIM- first level of due diligence, in October 2023. In April 2024, EXIM provided NioCorp with a preliminary indicative term sheet for possible financing.

NioCorp has engaged JPMorgan Chase Bank, N.A. to assist the company in seeking debt financing supported by EXIM. There can be no assurances that the application will advance or be approved by the EXIM Board of Directors nor that debt financing from EXIM will be provided.