NioCorp Developments (NB) entered into an agreement with Lockheed Martin (LMT) to support the development of a scandium-based defense technology with its Skunk Works advanced development programs division. The program is being funded by the U.S. Department of War. The program is designed to produce prototype components of aluminum-scandium alloy that will expand the capabilities of modern fighter aircraft. No additional details on the development program were released. Funding for the effort is being provided by the Pentagon as part of a $10M agreement via Title III of the Defense Production Act to support the establishment of a domestic scandium mine-to-master-alloy supply chain via the Company’s Elk Creek Critical Minerals Project in southeast Nebraska.
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