Nio Strategic Metals Expands Critical Metals Portfolio

Niocan Inc (TSE:NIO) has released an update.

Nio Strategic Metals Inc. has struck a deal to acquire 1478472 B.C. Ltd., gaining 100% of the Fafnir Project’s mining claims in Quebec, Canada, which shows promising concentrations of critical metals such as niobium and rare earth elements, essential for advancing green technologies and electric vehicle batteries. The acquisition, costing $75,000 in cash and $325,000 in shares, is expected to be completed by May 31, 2024. This move aligns with Nio’s strategy to become a significant player in the critical metals ecosystem.

For further insights into TSE:NIO stock, check out TipRanks’ Stock Analysis page.