Ivanhoe’s Kipushi zinc mine in the DRC officially reopens
The restart marked exactly a century since the mine first went into production.
NioCorp Developments (Nasdaq: NB) (TSX: NB) will officially delist from the Toronto Stock Exchange after market close on Friday, March 3, in favor of the Nasdaq, but will remain a reporting issuer per Canadian securities laws.
As previously detailed in an April 17 news release, the US critical minerals developer said the expenses and administrative costs of maintaining the TSX listing outweighed its benefits, and so a voluntary delisting was warranted.
Currently, more than 90% of NioCorp’s average daily trading volume was executed on the Nasdaq, the Centennial, Colorado-based company noted. NioCorp first started trading on the Nasdaq in March of 2023.
The stock traded 0.5% higher by 10:30 a.m. ET Wednesday in the US, with a market capitalization of roughly $75 million. The stock price of $2.04 is at the lower end of its 52-week range of $1.98-$6.39.
NioCorp is currently developing an advanced minerals project in southeast Nebraska that hosts the highest-grade primary niobium resource in North America and one of the largest scandium resources in the world. The proposed mine would also produce titanium, another critical mineral in the US.
A June 2022 feasibility study estimated that the Elk Creek deposit will produce around 7,300 tonnes of ferroniobium as the primary product plus 102 tonnes of scandium trioxide and 12,000 tonnes of titanium dioxide annually over its 38-year operating life.
From the Elk Creek project, the company also is evaluating the potential to produce several rare earths, including neodymium-praseodymium oxide, dysprosium oxide and terbium oxide. Recently, it also set sights on rare earth magnet recycling, focusing on technologies to convert used neodymium-iron-boron magnets into rare earth oxides.
