NioCorp Developments Ltd. CEO Mark Smith commented on February 4, 2025, that China is escalating its efforts to restrict access to critical minerals for the U.S. and its allies. These minerals are vital for national defense and various commercial technologies.
Smith emphasized that these actions by the People's Republic of China underscore the urgent need for the U.S. to accelerate its own domestic production of critical minerals. This would reduce dependence on foreign producers, particularly those considered adversarial nations.
NioCorp's Elk Creek Critical Minerals Project is positioned as a potential domestic source for niobium, scandium, titanium, and rare earth elements. The CEO's comments reinforce the strategic importance of the project in bolstering U.S. supply chain resilience and national security.
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