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Niocorp Developments hails Scandium milestone for Elk Creek project
Niocorp Developments Ltd (CVE:NB) hailed progress on the feasibility study for the Elk Creek superalloy materials project in Nebraska, where it has now successfully produced high-purity commercial grade scandium.
It has also finalised plans for the proposed scandium purification circuit – one of the last major parts required for the feasibility work.
The 99% purity commercial purity was achieved at the SGS lab in Ontario and the group said it was a major milestone in its plans to become one of the world’s largest producers of this high-value metal.
This means it has the purity needed for use in virtually all mainstream applications, including ultra-high-performance aluminum-scandium alloys for the aerospace and car sectors.
On track for feasibility study.
Niocorp chief executive Mark Smith told investors he was very pleased that Niocorp was on track to complete a feasibility study analysis years faster than many other mining companies typically do. Once that is complete, the group can begin to prepare for construction.
NioCorp added that it expects to release the results of the feasibility study in the second calendar quarter of 2017.
So far, feasibility study-level engineering design has been completed on the pyrometallurgical plant, mineral processing plant, wastewater treatment plant, and various infrastructure systems at the site.
Remaining work includes final hydrometallurgical engineering, cost estimates from third parties for equipment and systems, updates to existing market studies for planned commercial products and final CAPEX/OPEX estimates.
NioCorp noted that analysts have estimated that global demand for Scandium as an alloying agent in commercial aviation applications is potentially more than 300 tonnes per year.
Demand expected to grow..
Scandium demand by the solid oxide fuel cell industry is expected to grow to between 50 and 100 tonnes per year.
Niocorp plans to produce 97 tonnes per year from its Elk Creek facility at full production, according to its October 2015 PEA (preliminary economic assessment).
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/175466/niocorp-developments-hails-scandium-milestone-for-elk-creek-project-175466.html
