NioCorp announces consortium awarded UK Government funding

NioCorp Developments (NB) announced that an industry consortium in which it is working with automakers, manufacturers, and supply chain leaders has been awarded funding by the UK Government to support an $8 million program to design lightweight aluminum alloys and cast automotive components made of recycled aluminum strengthened by scandium, which NioCorp intends to produce at its Elk Creek Critical Minerals Project in Nebraska. The collaborative, known as Project PIVOT, includes such companies as Aston Martin (ARGGY), Sarginsons, Altair (ALTR), GESCRAP, and Brunel University London. The Project’s Steering Committee includes Jaguar Land Rover, Boeing UK (BA), Alcon Industries, Linamar (LIMAF), Shell Re-Charge, and others. The UK government funding, which totals approximately $3.8 million and will be supplemented by funds from project participants, was awarded by the Advanced Propulsion Centre UK following a competitive process. Project PIVOT is led by Coventry, UK-based aluminum foundry and engineering company Sarginsons and seeks to revolutionize the global casting industry through overhauling the design, weight, carbon intensity and production of cast aluminum, with a target of 100% recycled content.