EXIM Supports Financing for Elk Creek Project

NioCorp Developments Ltd. announced that the Export-Import Bank of the United States (EXIM) maintains its commitment to potentially finance 65% of the Elk Creek Project's upfront capital expenditures. This support follows EXIM's ongoing due diligence on NioCorp's application for debt financing.

The Elk Creek Project, located in Nebraska, focuses on producing crucial minerals such as niobium, scandium, and titanium. An estimated $1.85 billion is required for the project. The commitment was confirmed in a Letter of Support signed by EXIM Chairman John Jovanovic and NioCorp CEO Mark A. Smith.

Key political figures, including U.S. Secretary of Energy Chris Wright and Nebraska Governor Jim Pillen, attended the announcement. They emphasized the project's potential for economic growth and national security by securing domestic mineral supply chains.

EXIM plans to advance its due diligence quickly and further review the transaction internally. The Elk Creek Project is seen as vital for U.S. industrial advancements and job creation.