Overview
- NioCorp announced a non-binding memorandum of understanding with Lockheed Martin on Tuesday that could see Lockheed buy up to 15 tonnes a year of scandium oxide over ten years.
- The MOU is not a final contract and the companies said there is no assurance a definitive agreement will be reached.
- NioCorp’s Elk Creek project aims to produce about 100 tonnes a year of scandium oxide but is not yet financed or in commercial production and it has received a $10 million Pentagon Title III award to support joint development work with Lockheed.
- Separately, Lockheed has held year-long talks with Teck Resources and Quebec’s 5N Plus for germanium supplies but sources say pricing, contract length and limited U.S. processing capacity remain sticking points.
- A 15‑tonne annual supply would represent a large share of global scandium demand—about one-quarter of last year’s estimated 60 tonnes—and could strengthen U.S. airframe and additive‑manufacturing supply lines if financing, refining and multi‑year construction hurdles are cleared.