NioCorp Developments Ltd. has announced a significant advancement in its Elk Creek Critical Minerals Project located in southeast Nebraska. The U.S. Department of Defense has entered into a $10 million agreement with NioCorp's subsidiary, Elk Creek Resources Corp., under Title III of the Defense Production Act. This partnership aims to establish a domestic supply chain for scandium, a critical mineral. NioCorp's CEO, Mark Smith, highlighted the project's potential to position the United States as a global leader in scandium production, akin to the "Saudi Arabia of Scandium." The project promises to significantly boost the production of scandium, a mineral essential for strengthening aluminum alloys, which are crucial for defense applications such as fighter jets and submarines. The initiative is also aligned with President Trump's critical minerals policies, which include price floor supports to stabilize the market and counteract competitive practices from other countries.