World News: 17:51 GMT Wednesday 11th July 2018. [NioCorp Developments Ltd via Globe Newswire via SPi World News]
CENTENNIAL, Colo., July 11, 2018 (GLOBE NEWSWIRE) -- NioCorp Developments Ltd. or the(TSX:NB) (OTCQX:NIOBF) (FSE:BR3) is pleased to announce that it has agreed to testify on Tuesday, July 17, 2018 before the U.S. Senate Committee on Energy and Natural Resources (the “”) on its Elk Creek, Nebraska Critical Minerals Mine (the “Project”) and on the economic and national security implications of the three superalloy metals it plans to produce.
The hearing, led by U.S. Senator Lisa Murkowski (R-AK), Committee Chair, and Senator Maria Cantwell (D-WA), Committee Ranking Member, will examine the Department of the Interior’s final list of critical minerals for 2018 and “opportunities to strengthen the United States’ mineral security.” Scheduled to begin at 10 a.m. Eastern, the hearing will be broadcast live over the internet on the Committee’s webcast page: A video replay also will be available for viewing after the hearing concludes. Full details on the hearing from the Committee can be seen here: .
NioCorp was asked by the Committee to brief Senators on the Elk Creek Project and on the multiple commercial and national defense uses of the three superalloy metals – Niobium, Scandium, and Titanium – it intends to produce. All three elements were recently designated as “Critical Minerals” by the U.S. Government as part of the process launched by on December 20, 2017.
NioCorp was also asked to brief the Committee on how it has been able to shrink the expected environmental footprint of the project, which in turn has reduced the number of federal permits the project requires and may speed the Project’s ability to bring commercial products to market.
The Company also will testify to the economic and strategic implications of the Project’s ability to establish the U.S. as a producer of Niobium and Scandium for the first time in decades. The U.S. is now 100% dependent upon foreign sources for both metals. Niobium is considered to be such a critical and strategic metal that the U.S. National Defense Stockpile has purchased, and currently stores, supplies of Niobium in the event of national emergencies.
While Niobium, Scandium, and Titanium all have important uses in national defense technologies, they also play key roles in efforts to lightweight transportation systems and infrastructure elements. This helps to reduce environmental impacts, increase fuel economy, cut harmful air emissions. Scandium also used in Solid Oxide Fuel Cells, which provide high-reliability, reduced-emission electrical power to DoD, NASA, and companies such as Home Depot, Walmart, Apple, Google, and Verizon.
Testifying for NioCorp will be Jim Sims, NioCorp’s Vice President of External Affairs.
Globe Newswire: 17:51 GMT Wednesday 11th July 2018
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