NioCorp Signs Contract with Cementation USA, Inc. to Continue Advancing Engineering Work for the Elk Creek Superalloy Materials Project
CENTENNIAL, Feb. 23, 2021 - NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB) (OTCQX:NIOBF) is pleased to announce that it has signed a contract with Cementation USA, Inc, part of the Cementation Americas group ("Cementation"), a leading global underground mine contracting and engineering company, to continue advancing detailed engineering work associated with the Elk Creek Superalloy Materials Project (the "Project").
Under the contract, Cementation will conduct an evaluation of the current design for the Project's underground mine and prepare a detailed cost estimate for the final detailed engineering that would be required to bring the mine design to "Issued for Construction" status. As previously announced here, NioCorp selected Cementation as the lead Engineering, Procurement, and Construction contractor for the underground aspects of the Project. NioCorp expects to engage Cementation, if and when additional Project financing becomes available, to undertake Phase 2 of the contract, which involves completion of the detailed engineering for the mine.
Based in Sandy, UT, Cementation is a mining- and minerals-focused group of companies, delivering both underground and surface solutions for mines and downstream minerals processing facilities worldwide. Cementation specializes in delivering sustainable engineering, procurement, construction, commissioning, and operations and maintenance solutions to the mining and minerals industry.
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For More Information
Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 303-503-6203, 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 is also 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.
Forward-Looking Statements Disclaimers
Certain statements contained in this document may constitute forward-looking statements, including statements regarding NioCorp's expectation that it will secure Project financing sufficient to continue advancing the Project, including completion of required detailed engineering. 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.