Niocorp Developments Ltd (NB)

[The_Gman]

MP Materials began constructing its Fort Worth, Texas, manufacturing facility in April 2022. The company is currently producing magnet precursor materials in a North American pilot facility. It expects to commence commercial production of precursor materials in Fort Worth this summer and finished magnets by late 2025.

https://investors.mpmaterials.com/investor-news/news-details/2024/MP-Materials-Awarded-58.5-Million-to-Advance-U.S.-Rare-Earth-Magnet-Manufacturing/default.aspx

EXIM didn't start lending MMIA money until the first loan in August 2023. DoD gave MP $35m in February 2022. NioCorp needs significantly more than $800m. Different agencies, different rules, different budgets, different contracting goals.

I deleted the previous message because AO had already posted the same thing in #112776

MP is an operating mine that received money from the DOD and DOE to help build a domestic REE processing facility in Texas. NB is a startup in the application process to receive funding from EXIM Bank.