NioCorp Secures Critical Local Permit for its Elk Creek Superalloy Materials Project
Company Agrees to Upgrade and Maintain a County Road and to Reimburse Johnson County, Nebraska for Additional Law Enforcement Costs
CENTENNIAL, Colo., Dec. 24, 2019 /PRNewswire/ -- NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB; OTCQX: NIOBF) is pleased to announce the Johnson County, Nebraska Board of Commissioners has approved a Special Use Permit for NioCorp's Elk Creek Superalloy Materials Project (the "Project").
Mineral extraction is already a permitted special use in the agricultural zoning district where the Project will be located. In approving NioCorp's permit, the County Commissioners found that the Project was not incompatible with agriculture use, was designed to minimize impacts on neighboring property, and would likely result in an appreciation of value of surrounding structures and property.
NioCorp agreed to enter into an agreement with Johnson County to upgrade Road 721 from the Right of Way of State Highway 50 to the entrance to the Project site. Currently a County maintained gravel road, Road 721 will be upgraded to a paved road which NioCorp will engineer, construct, and maintain for the County.
Additionally, NioCorp agreed to enter into an agreement with Johnson County to reimburse the County for the costs for additional law enforcement required during the construction phase of the Elk Creek Mine project, including costs of an additional Sheriff's Deputy and equipment.
"We wish to thank the Johnson County Commissioners, the Planning Commission, Zoning Administrator Mike Davidson, and all of the Johnson County professional staff for their consideration of this permit and their efforts to forge a good outcome for both the Project and the County," said Scott Honan, President of Elk Creek Resources Corp. and Vice President of Business Development for NioCorp. "We believe that working cooperatively with the County to address local concerns through the Special Use Permit Process is the right way to do things. We look forward to being able to move to a construction start, once we secure sufficient project financing, and to serving as good neighbors with the people of Johnson County for decades to come."
NioCorp Secures Extension Agreements With More Nebraska Landowners
In separate news, NioCorp announced that it has secured legal agreements with southeastern Nebraska landowners to extend the Company's purchase option on two additional parcels of land planned for use as part of the proposed Project.
The extension agreements, which cover a total of 469 acres of land, involve two land parcels that were subject to agreements set to expire in 2020. The Company has now secured extension agreements on five land parcels that together cover more than 1,000 acres of land planned for use as part of the Project.
In the event that sufficient project financing is obtained, the Company intends to purchase land as required by the Project schedule.
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For More Information
Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 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 statements related to the Company's ability to secure necessary Project finance, secure land needed for the Project, initiate and complete construction of the Project, and enter into production operations. 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 Canadian securities regulators at www.sedar.com and 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.
SOURCE NioCorp Developments Ltd.
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