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Terbium oxide prices rose to 8,600 yuan a kilogramme, a level unseen since July 3.

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 whether it will be make economic sense to produce the neodymium-praseodymium oxide, dysprosium oxide, and terbium oxide used to make magnets.

The preliminary agreement establishes a 10-year offtake contract for minerals like neodymium-praseodymium oxide, dysprosium oxide, and terbium oxide that NioCorp aims to produce at its Elk Creek Critical Minerals Project in southeast Nebraska.