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NioCorp Developments (TSXV:NB,OTCQX:NIOBF,FWB:BR3) has entered an offtake agreement with ThyssenKrupp Metallurgical Products GmbH for roughly 50 percent of Niocorp’s planned ferro-niobium production from its Elk Creek deposit. The agreement is for an initial 10 year term, with an option to extend.
NioCorp Developments (TSXV:NB,OTCQX:NIOBF,FWB:BR3) has entered an offtake agreement with ThyssenKrupp Metallurgical Products GmbH for roughly 50 percent of Niocorp’s planned ferro-niobium production from its Elk Creek deposit. The agreement is for an initial 10 year term, with an option to extend.
As quoted in the press release:
Thyssen Krupp Metallurgical Products is one of the world’s leading commodity trading companies. Based in Essen, Germany, the company is part of the Business Area Materials Services, a global materials distributor and service provider with 500 branches in 44 countries.
The Company has appointed ThyssenKrupp Metallurgical Products as its exclusive sales agent of its production in Europe, with a stated amount to be sold in Germany. Both companies will work closely together to support Niocorp’s project financing; this explicitly includes not only debt, but also possibilities of equity financing and potential government loans.
NioCorp CEO, Mark Smith, said:
This Agreement is obviously conditional on the Company obtaining project financing to build a mine at Elk Creek. However, having the Agreement in place and discussing debt and equity financing possibilities with ThyssenKrupp Metallurgical Products, clearly enhances NioCorp’s prospects of achieving those milestones.
Click here to read the NioCorp Developments (TSXV:NB,OTCQX:NIOBF,FWB:BR3) press release
