Mergers & Acquisitions ·
NioCorp signs 15-year take-or-pay offtake with Traxys for Elk Creek Project ferroniobium and other products
NIOBWNiocorp Developments Ltd
Elk Creek Resources, a subsidiary of NioCorp Developments Ltd., entered into an Offtake Agreement with Traxys North America LLC covering ferroniobium and certain other products expected to be produced at the Company’s Elk Creek Critical Minerals Project in southeast Nebraska. The agreement supersedes prior agreements and requires Traxys to purchase 50% of annual ferroniobium production or 3,700 metric tonnes per year on a take-or-pay basis. Traxys holds exclusive marketing rights for other products including scandium and rare earths. The 15-year term begins upon commercial production, subject to termination if Export-Import Bank financing is not approved by December 31, 2027. NioCorp Developments Ltd. operates in the critical minerals mining sector.