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US awards NioCorp unit $10 million to build scandium supply chain

ReutersAug 5, 2025 12:49 PM

Shares of Canadian miner NioCorp NB.O rise 3% to $3.42 premarket

U.S. Department of Defense awards $10 million to Elk Creek Resources, a unit of NB, to develop the country's first domestic scandium supply chain

The funding will support engineering, drilling and feasibility studies which targets near-term production of scandium, niobium and titanium, key materials for defense aerospace systems

As of last close, shares are up 114.2% YTD

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