CENTENNIAL, Colo., Nov. 6, 2019 /CNW/ -- NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB; OTCQX: NIOBF) is pleased to announce that it has filed an application for a Special Use Permit with the Johnson County, Nebraska Zoning Administrator in advance of the Company's planned construction and operation of its proposed Elk Creek Superalloy Material Project (the "Project").
Special use permits are required by Johnson County in advance of construction to allow specific uses consistent with existing zoning requirements. The land on which NioCorp intends to establish the Project is currently zoned Agricultural in Johnson County, and one of the permissible uses of land in this zone is mining. The application filed by NioCorp, which will be considered by the Johnson County Planning Commission and the County Board of Commissioners, details the development of the Project as outlined in the Company's April 2019 Feasibility Study.
"We intend to work closely with the Johnson County Planning Commission, the County Commissioners, and other Johnson County leaders as our special use permit application is considered, and we look forward to providing all information needed by the County throughout this process," said Scott Honan, Vice President of Business Development for NioCorp and President of Elk Creek Resources Corp.
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.
Certain statements contained in this document may constitute forward-looking statements, including but not limited to NioCorp's ability to secure a Special Use Permit from Johnson County, NE and obtain all necessary government approvals required for construction and operation of the Project. Such forward-looking statements are based upon NioCorp's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp's plans or prospects to change include risks related to the Company's ability to operate as a going concern; risks related to the Company's requirement of significant additional capital; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes in economic valuations of the Project, such as Net Present Value calculations, changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business and the risks set forth in the Company's filings with the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.