NioCorp Files Its Elk Creek Project Construction Air Permit Application with the State of Nebraska
CENTENNIAL, July 25, 2019 - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB; OTCQX: NIOBF) is pleased to announce it has submitted a State Construction Air Permit application for its Elk Creek Superalloy Materials Project (the "Project") with the Nebraska Department of Environmental and Energy ("NDEE").
The permit review process will be led by NDEE personnel. The advanced emissions control technologies included as part of the planned Project are expected to result in prospective air emissions that are below levels that trigger the need for a permit under the Prevention of Significant Deterioration ("PSD") program. As a result, the Project is expected to be able to navigate a more efficient permitting process than is typically encountered under the PSD process.
The Nebraska Department of Environment and Energy allows for applicants to request a variance under state law to allow construction to start before a final state air quality construction permit is issued. A variance request would only be pursued if issuance of the construction permit extends past the time where the construction of permanent Project features is expected to take place. Once Project financing is obtained and on-the-ground activity commences at the Project site, the Company can proceed without the air quality construction permit or a permit variance to conduct months of earthwork related to site preparation, land grading and clearing, drilling, geotechnical examination, equipment mobilization, temporary worker support infrastructure, off-site electrical and natural gas supply development, and other earthwork-related activities that are not directly associated with permanent Project features.
The Project's relatively low planned emissions profile resulted from NioCorp's early efforts to recycle process reagents and its plans to deploy various emissions control technologies, such as baghouses, scrubbers, low nitrogen oxide (NOx) combustion systems, state-of-the-art acid regeneration, and other technologies.
Mark Smith, CEO and Executive Chairman of NioCorp, said: "I'm very pleased that the NioCorp team has achieved this significant milestone toward enabling a construction start of the Elk Creek Project. The company's commitment to reducing the Project's expected environmental impacts has already delivered tangible benefits, as evidenced by the more efficient air quality permitting process that we can now pursue. This underscores, once again, that doing right by the environment can also be good for business."
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For More Information
Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 20-639-4650, jim.sims@niocorp.com
About NioCorp
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. 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 also is 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. For more information, visit www.niocorp.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this document may constitute forward-looking statements, including statements regarding the efficiency of the air quality construction permit process for the Elk Creek Project and the Company's expectations regarding its ability to obtain such a permit in a reasonable amount of time. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp's plans or prospects to change include risks related to the Company's ability to operate as a going concern; risks related to the Company's requirement of significant additional capital; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes in economic valuations of the Project, such as Net Present Value calculations, changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business and the risks set forth in the Company's filings with Canadian securities regulators at www.sedar.com and the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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SOURCE NioCorp Developments Ltd.