NioCorp and Lockheed Martin Sign Scandium Supply Deal

NioCorp Developments (NB) has signed a non-binding memorandum of understanding with Lockheed Martin for scandium oxide supply of up to 15 metric tons per year over a 10-year term. NioCorp confirmed the agreement, which would draw scandium from its Elk Creek Critical Minerals Project in southeastern Nebraska.

The MOU builds on an existing joint development program between NioCorp and Lockheed Martin's Skunk Works unit to develop scandium-aluminum alloy components for fighter jet parts. It also lands amid a broader push by Lockheed Martin to secure domestic sources of critical minerals following White House supply-chain pressure. The United States has not mined scandium domestically since 1969, leaving defense contractors reliant on imports for a metal used to strengthen lightweight aluminum alloys.

If finalized, the contracted volume would represent roughly a quarter of estimated global scandium demand, which the U.S. Geological Survey puts at about 60 metric tons annually and rising. NioCorp's Elk Creek mine is still under development and targeted to begin production by 2028, with planned annual output of about 100 metric tons of scandium.

The agreement remains non-binding: NioCorp and Lockheed Martin still need to negotiate a definitive supply contract, and there is no guarantee one will be reached on these terms. Investors could watch for progress on Elk Creek's financing and construction milestones as signals of whether the deal converts into binding volume commitments.

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