NioCorp Announces Choice of Cementation USA to Lead Engineering, Procurement, and Construction for the Proposed Elk Creek Superalloy Materials Project's Underground Mine
NioCorp Also Selects the Nordmin Group of Companies as an Engineering Services Provider for the Proposed Project
CENTENNIAL, Colo., Oct. 31, 2019 /PRNewswire/ -- NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB; OTCQX: NIOBF) is pleased to announce that Cementation USA, part of the Cementation Americas Group ("Cementation"), has been selected as the lead Engineering, Procurement, and Construction ("EPC") contractor for the underground aspects of the proposed Elk Creek Superalloy Material Project (the "Project").
Based in Sandy, UT, Cementation is a mining- and minerals-focused group of companies, delivering both underground and surface solutions for mines and downstream minerals processing facilities worldwide. Cementation specializes in delivering sustainable engineering, procurement, construction, commissioning, and operations and maintenance solutions to the mining and minerals industry. Negotiations towards a formal EPC agreement between NioCorp and Cementation will be initiated in the near future. The development of the Project will require significant additional capital, and the Company anticipates that any significant work on the Project pursuant to such agreement will be contingent on obtaining additional Project financing, if and when available.
"Cementation provides broad expertise in both mine construction and mine engineering, and has a solid track record in safely executing on mine development projects around the world," said Mark A. Smith, CEO and Executive Chairman of NioCorp. "We look forward to working with their team to build one of the few greenfield underground mine developments in North America, and to a long and mutually beneficial relationship."
"It's encouraging to see an owner embrace the EPC approach," said Cementation's Robert Gripper, EVP Contracting, USA. "We understand that mine owners are looking for engineering that adds value through the use of best practices and accounts for constructability and operability, and a construction team that is aligned with the engineer and owner. Such an approach lends itself to this."
EPC contracts are among the numerous major mining projects which Cementation has undertaken. For more information, please go here: https://en.cementation.com/site/projects.php
NioCorp Chooses Nordmin as an Engineering Services Provider to the Project
NioCorp also announced that it intends to engage The Nordmin Group of Companies, headquartered in Thunder Bay, Ontario, to provide engineering services for the Project. Nordmin has demonstrated its expertise in designing an improved mine plan for the Project, along with an innovative interpretation of the geologic resource and a sound plan for managing bedrock groundwater associated with the mine. The Company anticipates that any significant additional work on the Project by Nordmin will be contingent on obtaining additional Project financing, if and when available.
"Nordmin did great technical work on the project, and brought together a mine design that improved the project's economics while reducing execution risk and providing an efficient and cost effective means for dealing with the water produced by the mine," said Scott Honan, Vice President of NioCorp and President of Elk Creek Resources Corp. "We look forward to continuing our collaboration with Nordmin on the engineering in support of Cementation's efforts, particularly in the areas of mineral resources, mineral reserves, mine design, and mine water management."
For more information on Cementation, please go here: https://en.cementation.com/
For more information on Nordmin, please go here: https://www.nordmin.com
For more information on NioCorp's Elk Creek Superalloy Materials Project, please go here: https://www.niocorp.com
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For More Information
Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., +1 (720) 639-4650, [email protected]
About NioCorp
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this document may constitute forward-looking statements, including but not limited to NioCorp's ability to secure significant additional capital, NioCorp's and Cementation's ability to execute a formal EPC contract, NioCorp and Nordmin's ability to execute a formal engineering services contract. Such forward-looking statements are based upon NioCorp's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp's plans or prospects to change include risks related to the Company's ability to operate as a going concern; risks related to the Company's requirement of significant additional capital; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes in economic valuations of the Project, such as Net Present Value calculations, changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business and the risks set forth in the Company's filings with the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE NioCorp Developments Ltd.
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