Potential Economic and Environmental Benefits for NioCorp's Elk Creek Mine

A recent study by Optimize Group Inc. suggests that by electrifying its proposed Elk Creek Critical Minerals Mine, NioCorp Developments Ltd. could reduce both capital (CAPEX) and operational (OPEX) expenditures. Utilizing a Railveyor™ system instead of planned vertical shafts could expedite full commercial production by up to five months and reduce the mine's carbon footprint.

The Railveyor system, which uses a fully electric and autonomous bulk material handling system, offers lower power consumption compared to traditional methods. This alternative approach is believed to cut initial CAPEX by 53.1%, resulting in a reduction of $188.9 million. Although sustaining CAPEX could rise by 8.2%, the total CAPEX would decrease by 31.1%, dropping from $554.4 million to $381.8 million.

Mark A. Smith, CEO and Chairman of NioCorp, noted the economic and environmental advantages, emphasizing expedited market access for critical minerals. COO Scott Honan stated that the technology would not delay the updated Feasibility Study for the Elk Creek Project.

Further evaluation is needed to continue assessing the potential benefits as outlined in the Optimize study. NioCorp's adoption of this electric system aligns with broader industry trends towards sustainable mining operations.