NioCorp and Lockheed Martin Sign MOU for Scandium Supply Agreement
NioCorp Developments Ltd. has signed a non-binding MOU with Lockheed Martin for the potential supply of up to 15 tonnes of scandium oxide annually over the next decade. This partnership supports U.S. defense technology through domestic sourcing of critical materials.
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NioCorp Developments Ltd. has entered into a non-binding Memorandum of Understanding with Lockheed Martin to supply up to 15 tonnes of scandium oxide per year for the next ten years. The supply will be sourced from the Elk Creek Critical Minerals Project in Nebraska, where NioCorp plans to produce approximately 100 tonnes annually after project financing and construction.
This MOU follows an existing collaboration with Lockheed Martin's Skunk Works, funded by the U.S. Department of War, aimed at developing scandium-based aluminum alloy components for fighter aircraft. The domestic supply chain for scandium is critical for enhancing American defense technology capabilities, although a definitive agreement remains uncertain.
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