Oct 23 (Reuters) - Rare earths miner NioCorp Developments ( NB ) said
on Thursday it has signed an agreement with U.S. defense contractor Lockheed
Martin ( LMT ) to support development of scandium-based technology under a
Pentagon-funded program.
The program aims to produce prototype aluminum-scandium alloy components
intended to expand the capabilities of modern fighter aircraft, NioCorp said.
The company did not provide further details.
Scandium, often grouped with rare earths, is used to strengthen aluminum
alloys for defense, aerospace and energy applications, but nearly all supply
comes from China, Russia and Ukraine. The U.S. has not mined scandium since
1969.
In August, the U.S. Department of Defense awarded up to $10 million to Elk
Creek Resources, a unit of NioCorp, to increase domestic scandium supply as
Washington seeks to reduce reliance on China for critical minerals.