NioCorp Initiates Construction at Elk Creek Minerals Project

NioCorp Developments Ltd. has commenced construction on the main portal of its Elk Creek Critical Minerals Project in Nebraska. This marks an important phase transition from planning to pre-construction. The portal construction, valued at approximately $44.6 million, aims to facilitate underground access for personnel and materials while enabling ore delivery to the surface production plant.

The project, strengthened by recent capital raises exceeding $500 million, also bolsters NioCorp’s standing with the Export-Import Bank of the U.S. for potential debt financing. NioCorp's CEO, Mark A. Smith, emphasized the project's advancement as a foundational step toward unlocking the site's polymetallic orebody. Over the next nine months, the focus will be on the safe and efficient execution of the portal project.

The Elk Creek Project plans to produce niobium, scandium, titanium, and potentially rare earth elements, aligning with critical mineral designations by the U.S. Government.