The study projects t more than $37 billion in gross revenue — up from the $22 billion projected in 2022.
The addition of five rare-earth products to the mine’s output, including dysprosium and terbium oxides, helped to drive that projected increase.
Elk Creek is the largest known source of niobium in the United States.
In early August, NioCorp also announced they’ve signed a memorandum of understanding with defense contractor Lockheed Martin, a nonbinding agreement allowing Lockheed Martin to potentially purchase around 16-and-a-half tons of scandium from the mine each year.
NioCorp has also announced a change to its planned power source. The company revealed it will no longer connect to the local electrical grid.
Chief Operating Officer Scott Honan said NioCorps best proposition is an onsite microgrid.
That means the company will have a series of small natural gas fired generators that will power the site both during the construction period and during operations.
