Niocorp Developments Ltd (NB)

[chico237]

Nb,Sc,Ti >> Inflation Reduction Act mandates escalating battery critical mineral requirements to qualify for EV tax credit
https://www.greencarcongress.com/2022/08/20220809-ira.html

Further, the bill as currently written mandates escalating levels of critical minerals to be sourced from the US or a country with a free-trade agreement with the US.
Specifically, the bill requires (Part 4, Sec. 13401. subsection (e)(1)(A)) that the “percentage of the value” of the applicable battery critical minerals (as defined later in the bill) extracted or processed in the US or a US free-trade partner or recycled in North America, be:
40% for a vehicle placed in service before 1 January 2024;
50% for a vehicle placed in the service during calendar year 2024;
60% for a vehicle placed in service during calendar year 2025;
70% for a vehicle placed in service during calendar year 2026; and
80% for a vehicle placed in service after 31 December 2026.
The bill places similar restrictions on the percentage of value of the components, but leading up to a 100% requirement for vehicles placed in service after 31 December 2028.
The bill then goes on to exclude specifically any vehicle placed in service after 31 December 2024, with respect to which any of the applicable critical minerals contained in the battery of the vehicle (as described in sub-section (e)(1)(A)) were extracted, processed, or recycled by a “foreign entity of concern”.
The bill then defines a long list of applicable critical minerals:
Dysprosium which is converted to not less than 99%t pure dysprosium iron alloy by mass, or purified to a minimum purity of 99% dysprosium by mass.
Neodymium which is converted to neodymium-praseodymium oxide which is purified to a minimum purity of 99% neodymium-praseodymium oxide by mass, converted to neodymium oxide which is purified to a minimum purity of 99.5% neodymium oxide by mass, or purified to a minimum purity of 99.9% neodymium by mass.
Niobium which is converted to ferronibium, or purified to a minimum purity of 99% niobium by mass.
Including:
Any of the following other minerals, provided that such mineral is purified to a minimum purity of 99% by mass: Arsenic; Bismuth; Erbium; Gallium; Hafnium; Holmium; Iridium; Lanthanum; Lutetium; Magnesium; Palladium; Platinum; Praseodymium; Rhodium; Rubidium; Ruthenium; Samarium; Scandium; Tantalum; Terbium; Thulium; Titanium; Ytterbium; Zinc; and Zirconium.

~ (Bodes well for Niocorp! Which has been recently PROVEN as the SECOND LARGEST RARE EARTH RESOURCE IN THE U.S.)~
May 2022 NioCorp’s Elk Creek Project Confirmed as the Second Largest Indicated-Or-Better Rare Earth Resource in the U.S.
https://www.niocorp.com/niocorps-elk-creek-project-confirmed-as-the-second-largest-indicated-or-better-rare-earth-resource-in-the-u-s/

More Critical Mineral Legislation is before the 117th Congress
https://www.congress.gov/search?q=%7B%22congress%22%3A%5B%22117%22%5D%2C%22source%22%3A%22all%22%2C%22search%22%3A%22Critical%20Minerals%22%7D

(I think AO posted a response from Jim that Niocorp was in Talks with automakers on both sides of the pond?)
Chico