Lockheed Martin, NioCorp Sign Scandium Purchase Agreement

Lockheed Martin has signed a nonbinding memorandum of understanding with critical minerals developer NioCorp that could support a U.S. scandium supply chain (Fastmarkets).

What’s going on: “The agreement adds to NioCorp’s joint venture with Lockheed Martin’s Skunk Works advanced development division, where the aerospace company is seeking to ‘develop scandium-based aluminum alloy components for modern fighter aircraft,’” according to a press release.

• Under the 10-year deal announced last week, Lockheed would purchase up to 15 tonnes annually of scandium oxide from NioCorp, which plans to produce about 100 tonnes of the substance every year at its Elk Creek Critical Minerals Project in Nebraska.
• The agreement is supported by a $10 million award from the Pentagon.
• NioCorp currently produces a 4% aluminum-scandium master alloy, and it is aiming to expand production into finished aluminum-scandium alloy goods (InvestorsHub).
• The Elk Creek Project is also expected to produce two additional critical minerals: niobium and titanium.

Why it’s important: The deal’s announcement follows other efforts by President Trump to create robust domestic critical mineral supply chains, which are vital to the success of America’s technology, health and defense sectors.

• Scandium is classified by the U.S. Geological Survey as a rare earth mineral, a subset of critical minerals that enable various high-performance technologies.
• “An estimated 60 tonnes of scandium oxide was consumed globally in 2025, according to the USGS.”

Our take: “Strong domestic supply chains of rare earths like scandium and other critical minerals will make the U.S. safer and more prosperous,” said NAM Vice President of Domestic Policy Chris Phalen.

• “Manufacturers support efforts like Lockheed Martin and NioCorp’s to develop these supply chains, supporting innovation and national defense.”