According to NioCorp Developments Ltd., the agreement, if it leads to a commercial offtake agreement, would cover up to 25% of the mine’s output in its first 10 years of production. 

“We are very pleased to have reached this non-binding letter of intent with a very large U.S.-based steel producer, whom we cannot name because of our confidentiality agreement with them. But we much look forward to executing a commercial sales offtake agreement at the right time and to supplying this steel producer with Nebraska-produced ferroniobium,” said NioCorp executive chairman and chief executive Mark A. Smith. 

NioCorp said it already has signed separate offtake agreements with thyssenkrupp Metallurgical Products GmbH and CMC Cometals for roughly 75% of the mine’s production in its first 10 years.