Stellantis N.V. and NioCorp Developments Ltd. announced the signing of a Rare Earth Offtake Term Sheet. The objective is to enter into a definitive rare earth supply agreement to support Stellantis' commitment to build resilient supply chains and reach carbon net zero by 2038 and to help accelerate NioCorp's path to commercial production of magnetic rare earth oxides in the U.S. The Term Sheet executed envisions a definitive agreement for a 10-year offtake contract for specific amounts of neodymium-praseodymium oxide, dysprosium oxide, and terbium oxide that NioCorp aims to produce at its Elk Creek Critical Minerals Project in southeast Nebraska, subject to the receipt of adequate project financing. Final volumes would be set in a definitive agreement.
NioCorp Developments Ltd. Toronto S.E.
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3.43 CAD | +12.09% | 0.00% | -18.72% |
05-22 | HC Wainwright Adjusts Price Target on NioCorp Developments to $8.50 From $12, Maintains Buy Rating | MT |
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- Stellantis and NioCorp Developments Ltd. Sign Rare Earth Offtake Term Sheet in Support of Stellantis' Commitment to Reaching Carbon Net Zero by 2038