By Rob Curran

NioCorp Developments fell sharply after the titanium producer said it had commenced a follow-on offering of shares.

The Centennial, Colo., miner said it would sell shares and warrants in an offering whose size and duration were not predetermined.

NioCorp owns the Elk Creek mine in Nebraska, where it produces titanium, niobium and scandium -- all designated as "critical minerals" by the U.S. NioCorp is also weighing efforts to produce rare-earth minerals at the site. Recently, the U.S. Defense Department acquired a stake in MP Materials, a U.S.-based rare-earth magnet producer, as the Pentagon seeks to develop an American supply chain for the vital weapons components, following a period of dependence on China.

Investment bank Maxim Group is acting as the sole placement agent for the offering.

NioCorp shares fell 14% to $3.42 premarket.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 17, 2025 08:12 ET (12:12 GMT)

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