The U.S. Department of Defense has awarded $10 million to Elk Creek Resources for scandium production in Nebraska. This funding will support engineering and drilling work at the Elk Creek project, aiming to reduce U.S. reliance on foreign critical mineral suppliers, particularly China. Scandium is crucial for aerospace and defense applications, with the U.S. not having mined it domestically since 1969. NioCorp Developments, the parent company, saw a 4.8% rise in shares following the news. This move aligns with a 2025 executive order promoting domestic mineral production, reflecting a broader national security strategy.

Read more at Quiver Quant: Pentagon Awards $10M to NioCorp to Build U.S. Scandium Supply Chain