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NioCorp Developments ( (NB) ) just unveiled an announcement.
NioCorp Developments Ltd. CEO Mark A. Smith highlighted the challenges posed by China’s dual-use export licensing on heavy rare earths during a symposium, emphasizing the need for the U.S. to strengthen its domestic supply chains for critical minerals. The Elk Creek Project in Nebraska is positioned to help mitigate these supply chain vulnerabilities by potentially producing essential materials like niobium, scandium, and titanium, which are vital for various industries. The company is actively pursuing project financing to move into the construction phase and aims to establish downstream processing capabilities in the U.S. to reduce reliance on foreign exports.
The most recent analyst rating on (NB) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on NioCorp Developments stock, see the NB Stock Forecast page.
More about NioCorp Developments
NioCorp Developments Ltd. is focused on developing the Elk Creek Project, which aims to produce niobium, scandium, and titanium. The company is also exploring the potential to produce rare earth elements from this project. These materials are crucial for various applications, including specialty alloys, high-strength steel, advanced fuel cells, and magnetic components used in defense and civilian sectors.
Average Trading Volume: 8,329,639
Technical Sentiment Signal: Strong Buy
Current Market Cap: $726.9M
See more insights into NB stock on TipRanks’ Stock Analysis page.