(Reuters) -Rare earths miner NioCorp Developments said on Thursday it has signed an agreement with U.S. defense contractor Lockheed Martin 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.
(Reporting by Dharna Bafna in Bengaluru; Editing by Tasim Zahid)
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