NioCorp Developments Ltd. (NASDAQ:NB), a leading U.S. developer of critical minerals, has reached a definitive agreement with Traxys North America LLC, a leading global trader and merchant in the metals and natural resources sectors, resulting in 100% of the Company's planned production from its Elk Creek Critical Minerals Project now being supported by commercial agreements during the first 15 years of operations.
Under the binding Agreement, Traxys will purchase, on a take-or-pay basis, 50% of NioCorp's planned ferroniobium production from its Elk Creek Project over the first 15 years of production. The Agreement supersedes and replaces the prior ferroniobium and scandium offtake arrangements between NioCorp and Traxys.
NioCorp's existing offtake agreement with ThyssenKrupp Metallurgical Products GmbH, covering the other 50% of NioCorp's planned ferroniobium production from its Elk Creek Project over the first 10 years of production remains unchanged.
This morning’s news release also says Traxys will also have the exclusive right, but not the obligation, to purchase all of NioCorp's planned products beyond ferroniobium, including scandium, titanium and rare earth products, and to serve as NioCorp's exclusive global marketing and sales partner, leveraging its established global customer network and the central role it now plays in the Trump Administration's Project Vault initiative, which is designed to facilitate sales of critical minerals to large manufacturers.
NB shares gained 10.5 cents, or 3.2%, to $3.39.
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