NioCorp Developments Ltd. announced on October 29, 2024, its involvement in an industry consortium that has secured funding from the UK Government. This R&D effort aims to develop digitally optimized cast automotive parts using recycled aluminum.
The project focuses on strengthening recycled aluminum with scandium, a specialty metal that NioCorp plans to produce. Scandium enables the use of recycled aluminum without any loss of mechanical properties, offering a more sustainable and lower carbon intensity solution for manufacturing.
The consortium includes notable partners such as Aston-Martin, Sarginsons, and Boeing UK. This collaboration highlights the potential for NioCorp's scandium in high-value applications and aligns with global sustainability initiatives in the automotive and aerospace sectors.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.