Mining company’s deal to sell rare earths to Stellantis may boost project’s fundraising efforts

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — The company that wants to build a mine in southeast Nebraska has signed a deal with a major automaker to sell the rare earth elements it hopes to produce to help Stellantis make more electric vehicles. NioCorp announced the tentative deal Thursday. The companies didn’t disclose how much Stellantis will pay because those details are still being negotiated, but this deal with such a high-profile buyer will likely provide a boost to NioCorp’s effort to raise $1.1 billion to build the mine. It’s also not clear just how much of the highly sought-after elements Stellantis would be able to buy as part of this agreement because NioCorp is still working to determine if they can produce them economically.