NioCorp Developments Ltd. issued a statement on June 4, 2025, responding to news reports indicating a crisis in U.S. automotive manufacturing. The crisis is attributed to shortages of high-performance rare earth magnets caused by China's decision to restrict exports of these magnets and the heavy rare earths they contain.
NioCorp stated that U.S.-based automotive and other manufacturers may be forced to halt production due to these supply chain disruptions. This situation underscores the severe impact of foreign control over critical mineral resources on American industries.
The company highlighted its Elk Creek Project in Nebraska as a potential fast-to-market source for Made-in-America heavy rare earth products. This positions NioCorp as a crucial domestic solution to a national economic and strategic vulnerability.
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