NioCorp Supports U.S. Initiative on Rare Earth Independence

NioCorp Developments Ltd. has endorsed a proposed plan by the Trump Administration to set price supports for U.S. production of rare earth oxides. This move aims to reduce reliance on foreign markets, particularly China, for critical minerals. The strategy underlines the use of the Defense Production Act to strengthen U.S. leadership in mining and manufacturing.

Mark A. Smith, Chairman and CEO of NioCorp, emphasized that the policy would bolster national defense and economic security by exploiting the U.S.'s mineral resources. He also highlighted the environmental feasibility of domestic production.

NioCorp's Elk Creek Project is positioned to supply six vital minerals, including niobium, scandium, titanium, and rare earth oxides, to boost the U.S.'s self-reliance in these critical materials.