NioCorp Developments Ltd. signed a commercial sales agreement with Traxys North America LLC covering up to 120 tonnes of scandium trioxide that would be produced during the initial 10-year operating period of the company's Elk Creek project in Nebraska.
The deal requires Traxys to purchase 12 tonnes per year of scandium trioxide, which represents about 10% of NioCorp's planned annual output. The quantity can increase and the contract can be extended via mutual agreement.
NioCorp said Oct. 10 that it will work with Traxys to promote and market scandium to different industries.
In August, the company received a new proposed design by the Nordmin Group of Cos. for the underground portion of Elk Creek, which could further streamline the process of moving it to initial construction.