09:16 AM EDT, 05/16/2025 (MT Newswires) -- NioCorp Developments ( NB ) said Friday that it has received a preliminary, non-binding expression of interest from UK Export Finance to provide a debt guarantee of up to $200 million.

UK Export Finance is the UK's export credit agency.

The mineral development company said the debt would be used to help finance construction of its proposed Elk Creek Critical Minerals Project in Southeast Nebraska.

NioCorp said the loan is contingent on it meeting certain conditions, such as executing an offtake agreement for at least one of its planned products to UK-based companies that can support UK exports.

NioCorp also said it is in talks with British exporters for the potential sale of scandium-based products from the Elk Creek Project.

Shares of NioCorp were 0.8% lower in recent premarket activity.