financetom
Business
financetom
/
Business
/
NioCorp, Lockheed partner on Pentagon-funded scandium alloy work
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
NioCorp, Lockheed partner on Pentagon-funded scandium alloy work
Oct 23, 2025 10:15 AM

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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
AI startup Perplexity adds The Independent, LA Times to its publishers' program
AI startup Perplexity adds The Independent, LA Times to its publishers' program
Dec 5, 2024
Dec 5 (Reuters) - AI search startup Perplexity said on Thursday it was adding more than a dozen new media partners, including the Los Angeles Times and The Independent, to its program where it shares a portion of ad revenue with the publishers. In its first set of partners from regions including Japan, Spain and Latin America, Perplexity said companies...
Interpublic Group Buys Intelligence Node
Interpublic Group Buys Intelligence Node
Dec 5, 2024
09:00 AM EST, 12/05/2024 (MT Newswires) -- Interpublic Group (IPG) said Thursday it has bought e-commerce intelligence platform Intelligence Node in a bid to expand its commerce services. Financial details were not disclosed. ...
Arcadia Biosciences to Combine With Roosevelt Resources; Shares Surge Pre-Bell
Arcadia Biosciences to Combine With Roosevelt Resources; Shares Surge Pre-Bell
Dec 5, 2024
09:00 AM EST, 12/05/2024 (MT Newswires) -- Arcadia Biosciences ( RKDA ) shares were up more than 209% in recent Thursday premarket activity following an announcement that the company entered into a definitive securities exchange agreement that would combine it with Roosevelt Resources in an all-stock transaction. Arcadia will issue shares to partners of Roosevelt in exchange for all of...
Brown-Forman beats quarterly results on whiskey, ready-to-drink beverages demand
Brown-Forman beats quarterly results on whiskey, ready-to-drink beverages demand
Dec 5, 2024
Dec 5 (Reuters) - Brown-Forman ( BF/A ) beat second-quarter sales and profit estimates on Thursday, helped by steady demand for its ready-to-drink beverages and spirits. Shares of the company, which has dropped nearly 28% so far this year, rose about 6% before the bell. The company's famed whiskey products including Woodford Reserve and Old Forester saw sales grow based...
Copyright 2023-2026 - www.financetom.com All Rights Reserved