NioCorp ‘applauds’ White House, EXIM for ‘Project Vault’ initiative

NioCorp (NB) Developments “applauded” the launch by the White House and the Export-Import Bank of the United States of “Project Vault,” an effort to establish a U.S. Strategic Critical Minerals Reserve to procure, store, and enable the sale of critical minerals to American manufacturers. The government-industry partnership is anchored by $11B from EXIM and approximately $1.67B in seed capital from some of the nation’s leading companies. “This effort represents exactly the kind of bold and innovative public-private partnership that the U.S. needs right now to facilitate the rapid build-out of domestic critical minerals production and integrated supply chains,” said Mark Smith, CEO. “I commend President Trump and EXIM Chairman John Jovanovic for their vision. Coupled with the Trump Administration’s recent Section 232 findings and January 14 Presidential Proclamation, the Administration is signaling that it intends to move rapidly and aggressively to address excessive U.S. reliance on imported processed critical minerals and derivative products. Breaking China’s dominance over critical minerals is essential to America’s economic and national security future. We appreciate the Administration’s leadership and EXIM’s commitment to practical solutions that strengthen U.S. manufacturers and critical minerals producers. NioCorp stands ready to do its part by advancing the Elk Creek Project and supplying American-made critical materials to help power the next generation of U.S. industry.”