NioCorp Puts All Planned Elk Creek Production Under Long-Term Sales Agreements With New Traxys Deal

NioCorp Developments Ltd. (NASDAQ: NB), a U.S. developer of critical minerals, announced on October 13, 2026 a binding 15-year definitive agreement with Traxys North America LLC. With the deal, the company says 100% of the planned production from its Elk Creek Critical Minerals Project in southeast Nebraska is now supported by commercial agreements for the first 15 years of operations. In addition, NioCorp expects the agreement to help advance its proposed debt financing package with the Export-Import Bank of the United States (EXIM).

What the Traxys Agreement Covers

Under the agreement, Traxys will purchase 50% of the planned ferroniobium production from Elk Creek over the first 15 years of production on a take-or-pay basis. The new contract supersedes and replaces earlier ferroniobium and scandium offtake arrangements between the two companies. Meanwhile, NioCorp’s existing offtake agreement with ThyssenKrupp Metallurgical Products GmbH, which covers the other 50% of planned ferroniobium production over the first 10 years, remains unchanged.

Traxys will also have the exclusive right, but not the obligation, to purchase all of NioCorp’s planned products beyond ferroniobium, including scandium, titanium and rare earth products. It will also serve as NioCorp’s exclusive global marketing and sales partner. According to the release, Traxys is a physical commodity trader with more than 450 employees in over 20 offices and annual turnover of $10 billion, and it plays a central role in the Administration’s Project Vault initiative to facilitate critical mineral sales to large manufacturers.

“Together with our existing ferroniobium offtake agreement, every product we plan to produce at Elk Creek is now supported by long-term commercial agreements for 15 years of operations with highly reputable commercial partners,” said Mark A. Smith, CEO and Executive Chairman of NioCorp. He added that the agreement addresses “one of the key due diligence items in EXIM’s review” of the company’s proposed financing package.

The agreement is binding, but deliveries remain subject to completion of project financing, construction of Elk Creek, the start of commercial production and finalization of customary ancillary terms. Separately, NioCorp and Traxys continue to discuss a potential strategic equity investment by Traxys of up to $30 million. That investment is not part of the agreement, and the company said there can be no assurance it will be completed.

From Term Sheet to Binding Contract

The deal builds on a non-binding term sheet the companies signed in April 2026. At that time, NioCorp had placed 75% of its planned ferroniobium production and 12% of its planned scandium oxide production under contract.

Since then, the scope of Elk Creek has grown. In August, NioCorp released an updated feasibility study outlining a 40-year integrated operation producing eight critical mineral products from a single ore body, including ferroniobium, scandium trioxide, titanium tetrachloride and several rare earth products. The study estimates a pre-tax net present value at an 8% discount of $4.1 billion (after-tax $3.4 billion), a pre-tax internal rate of return of 24%, life-of-mine revenue of about $37.4 billion and average annual EBITDA of $608 million. It also puts upfront capital at $1.85 billion. NioCorp said completing the study satisfies a key EXIM due diligence requirement.

EXIM Review and Funding Position

NioCorp’s path to EXIM financing dates back several years. According to its annual report for the fiscal year ended June 30, 2026, the company received a letter of interest from EXIM in March 2023, applied under the “Make More in America” initiative in June 2023 and received a Preliminary Project Letter in April 2024. However, the company notes that neither document represents a financing commitment from EXIM.

The agreement also lands a day before a high-profile site visit. On October 14, U.S. Energy Secretary Chris Wright, EXIM Chairman John Jovanovic, Nebraska Governor Jim Pillen, Senators Deb Fischer and Pete Ricketts, and Congressman Adrian Smith are scheduled to tour Elk Creek, where construction is underway. NioCorp began building the mine’s main access portal in February as part of an approximately $44.6 million effort.

On the balance sheet, NioCorp reported cash of $415.0 million and working capital of $402.3 million as of June 30, 2026, compared with cash of $25.6 million a year earlier. The company attributed the increase to approximately $375.1 million in net proceeds from five equity offerings completed between July 2025 and February 2026.

Strategic Investment Summary

• Full Offtake Coverage: NioCorp Developments Ltd. (NASDAQ: NB) says 100% of planned Elk Creek production is now supported by commercial agreements for the first 15 years of operations.
• Ferroniobium Split: Traxys will buy 50% of planned ferroniobium output on a take-or-pay basis for 15 years, while ThyssenKrupp covers the other 50% for the first 10 years.
• Expanded Marketing Role: Traxys gains the exclusive right to purchase NioCorp’s scandium, titanium and rare earth products and becomes its exclusive global marketing and sales partner.
• Financing Link: The company expects the agreement to support its proposed EXIM debt financing, with EXIM’s chairman scheduled to visit the site on October 14.
• Project Economics: The August 2026 feasibility study estimates a pre-tax NPV8% of $4.1 billion, upfront capital of $1.85 billion and a 40-year mine life.
• Cash Position: NioCorp held cash of $415.0 million as of June 30, 2026.

Find out more about the latest corporate developments and financial reports at the NioCorp investor portal.