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NioCorp reaches key milestone for Elk Creek - a Federal water permit

Last updated: 16:14 26 Jun 2017 EDT, First published: 04:14 26 Jun 2017 EDT

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Obtaining a Clean Water Act federal permit is a major milestone for virtually any mining project in the US

The US national infrastructure project that is NioCorp Developments Ltd's (CVE:NB) Elk Creek superalloy materials project moved a step closer to production today.

The firm, developing the Nebraska project, has secured a key federal waterline permit from the US Army Corps of Engineers (USACE).

This Section 404 permit relating to clean water means the company can build all of the project’s proposed 33-mile waterline to the Missouri river.

It does not include the final 900ft into the river and structure, but this already has a permit.

The rest of the proposed site, including the underground mine, surface processing facilities and tailings impoundment, is expected to have no permanent impacts to water features subject to CWA (Clean Water Act) regulation.

"Obtaining a Clean Water Act Section 404 federal permit is a major milestone for virtually any mining or natural resource development project in the US, and we are very pleased to have secured this authorization," said Mark A. Smith, executive chair and chief executive of Niocorp.

"Once sufficient project financing is in place, our other federal permit is secured for the waterline's outfall structure, and state and local permits are finalized, we should be clear to launch construction of this important US national infrastructure project.

Thanking the US army corps of engineers, he added: "We look forward to completing the process for the Section 408 permit in as expeditious a manner as possible."

Shares eased 1.23% on the day.

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