NioCorp Developments (NASDAQ:NB) has completed the US$8.4 million acquisition of the manufacturing assets and intellectual property of Massachusetts-based FEA Materials.
NioCorp expects the move to position it as a domestic producer of aluminum-scandium (Al-Sc) master alloy amid growing demand for the material in defense and commercial markets.
The all-cash purchase complements NioCorp’s Elk Creek critical minerals project in Nebraska, where it aims to produce scandium oxide alongside niobium, titanium and potentially rare earths once fully financed and operational.
FEA’s proprietary process converts scandium oxide directly into Al-Sc master alloy, bypassing intermediate metal production. NioCorp is also assessing the feasibility of producing finished Al-Sc alloy parts via casting, forging and machining for original equipment manufacturers in the US.
“This strategic acquisition positions NioCorp to potentially build America’s first vertically integrated scandium supply chain from mine to finished alloy parts,” NioCorp CEO Mark A. Smith said in a press release.
Eugene Prahin, CEO of FEA, praised NioCorp’s vertically integrated approach, adding that the company’s alloying technology “will be key to growing scandium-based structural alloys in the years to come.”
The FEA acquisition follows a US$10 million Pentagon Title III award to NioCorp’s subsidiary Elk Creek Resources. Announced in August, it is geared at supporting scandium oxide production.
NioCorp is also collaborating with Lockheed Martin (NYSE:LMT) on aerospace-grade Al-Sc components.
“Working jointly with the Pentagon, NioCorp is committed to insulating the US from market manipulation by China, which has historically constrained scandium-based technologies,’ said Smith.
With the latest acquisition and the government funding, NioCorp envision building a complete US mine-to-market supply chain for scandium, spanning extraction, alloy production and finished parts manufacturing.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Other Articles
What time is 2026 World Cup draw? How to watch and stream
