NioCorp Developments (NB) said Friday it is developing a critical minerals project in Nebraska with an aim to produce the processed rare earths that China plans to limit US access to as part of its retaliatory action against the Trump administration's latest tariffs.
Chinese Ministry of Commerce had said it was restricting the exports of certain rare earth elements, including samarium and scandium. The restrictions include metals, alloys, oxides, compounds, and related products of the rare earths.
The new project in Nebraska is also expected to produce niobium and titanium, the company said.
NioCorp shares were up more than 4% in recent Friday trading.
Price: 2.17, Change: +0.08, Percent Change: +4.11
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.