HOUSTON, October 23rd (Argus) - American critical minerals developer NioCorp and Lockheed Martin have announced a partnership to develop defense technology based on scandium.
The two parties will jointly produce prototype components of aluminum-scandium alloys, aiming to enhance the performance of modern fighter jets. Mark Smith, the CEO of NioCorp, said that the company's annual production capacity of 100 tons of scandium will end the United States' reliance on imports of this material and bring about changes in both defense and commercial applications.
This project received $10 million in funding from the US Department of Defense under the Defense Production Act, to build a local "mines-alloy" supply chain through the Elk Creek Critical Minerals (ECRC) project in southeastern Nebraska.
The ECRC project plans to achieve production of scandium, niobium, titanium, and light and heavy magnetic rare earth oxides in the short term. NioCorp signed a 10-year purchase agreement with Traxys North America in 2018, stipulating an annual supply of 12 tons of scandium products. In 2025, the company has raised $212 million and is currently preparing to launch the project construction.
