Niocorp joins with major automotive manufacturers, mining companies and electric vehicle battery companies to urge action by biden administration on mining tax incentive

Centennial, co / accesswire / february 8, 2024 / niocorp developments ltd. ("niocorp" or the "company") (nasdaq:nb)(tsx:nb) joined with major automotive manufacturers, mining companies, and electric vehicle battery companies to urge the biden administration to allow a 10% tax credit to apply to both mineral extraction and mineral processing in the u.s. in a joint letter this week to u.s. treasury secretary janet yellen, niocorp and 45 other companies and associations, including tesla, general motors, and the zero emission transportation association, urged the internal revenue service not to limit the section 45x advanced manufacturing product tax credit (the "45x tax credit") only to the cost of processing critical minerals needed for electric vehicles and other clean energy technologies, but to extend the 45x tax credit to the cost of mining the minerals, as well.
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