Lockheed Martin and NioCorp Sign MOU for Scandium Supply

NioCorp Developments Ltd. has entered into a non-binding Memorandum of Understanding (MOU) with Lockheed Martin for the potential supply of up to 15 tonnes of scandium oxide annually over 10 years. This move is part of an effort to establish the first American scandium supply chain for defense applications. The scandium, which could also be provided in aluminum-scandium alloy form, is planned to be sourced from NioCorp's Elk Creek project in Nebraska, once financing and construction are secured.

The MOU extends on existing collaborations with Lockheed Martin’s Skunk Works, funded by the U.S. Department of War, which aim to develop scandium-aluminum alloy components for fighter aircraft. The endeavor underscores the strategic importance of scandium in defense technologies and the need to reduce reliance on imports from China.