NioCorp sees potential financing to strengthen U.S. supply chain

CENTENNIAL, Colo. –  NioCorp Developments announced a letter of interest from the Export-Import Bank of the United States for debt financing of up to $800 million through the bank’s “Make More in America” initiative.

A NioCorp press release says the Export-Import Bank is interested in supporting capital funding planned by Elk Creek Resources Corp.

The letter is not a commitment of finances, but advanced the underwriting process.

NioCorp CEO Mark Smith said the company is looking forward to submitting a formal loan application.

As noted on the bank's website, in February 2021, President Biden signed Executive Order 14017 directing an all-of-government approach to assessing vulnerabilities in – and strengthening the resilience of – the United States’ critical supply chains.

 From that Executive Order, the White House released findings from its comprehensive 100-day supply chain assessments for four critical products: semiconductor manufacturing and advanced packaging; large capacity batteries, like those for electric vehicles; critical minerals and materials; and pharmaceuticals and active pharmaceutical ingredients.

https://www.whitehouse.gov/briefing-room/presidential-actions/2021/02/24/executive-order-on-americas-supply-chains/

https://www.exim.gov/