Nebraska Governor Pete Ricketts Nominates the Elk Creek Project to the White House as a "High Priority National Infrastructure Project"
31.7.2017 13:00 | NASDAQ OMX
NioCorp Developments Ltd / Nebraska Governor Pete Ricketts Nominates the Elk Creek Project to the White House as a "High Priority National Infrastructure Project" . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
CENTENNIAL, Colo., July 31, 2017 (GLOBE NEWSWIRE) -- Governor Pete Ricketts (R-NE) has nominated the Elk Creek Superalloy Project as a "High Priority Infrastructure Project" in response to the White House's January 24, 2017 Executive Order entitled "Expediting Environmental Reviews and Approvals For High Priority Infrastructure Projects." In this letter to the Administration, Governor Ricketts made these points:
"Key to the success of a national infrastructure re-building is utilizing as many American-made materials as possible - particularly the high strength steels that form the backbone of America's transportation, manufacturing, and defense infrastructures. The Elk Creek Superalloy Project can help the U.S. produce American-made "super steels" for infrastructure projects across all 50 states. The Project will establish the first-ever production in America of niobium, a metal that helps to make High Performance Steel (HPS). These super steels are increasingly used in highway bridges and in virtually all mega-steel infrastructure projects in order to reduce corrosion, lengthen lifespans, cut costs, and reduce environmental impacts. American-made HPS steel can help highway bridges last in excess of a century. That will reduce taxpayer costs and strengthen safety... We need niobium, Mr. President, yet we don't mine a single pound of it in the U.S. today. Nebraska wants to change that, and as rapidly as possible."
On Behalf of the Board of Directors,
Executive Chairman, CEO, and Director
For More Information: Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., +1 303-503-6203, firstname.lastname@example.org
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
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this document. Certain statements contained in this document may constitute forward-looking statements, including but not limited to potential future production at the Elk Creek Project, anticipated products to be produced at the Elk Creek Project, the future critical and strategic nature of niobium and scandium, anticipated costs of production at the Elk Creek Project being competitive, and anticipated competitive advantages. 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.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: NioCorp Developments Ltd via Globenewswire
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