NioCorp Begins Construction on Elk Creek Rare Earth Mineral Mine in Nebraska Ahead of Schedule
NioCorp has officially broken ground on its Elk Creek rare earth mineral mine in Johnson County, Nebraska, approximately four to five months ahead of schedule. The project's completion is projected for 2029, with an estimated cost of $1.2 billion. NioCorp has raised over $100 million and is seeking $780 million from the Export-Import Bank to fund the project. The mine aims to supply niobium, scandium, and other rare earth minerals domestically, addressing increasing needs from sectors such as the Department of Defense.
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NioCorp has commenced construction on the Elk Creek rare earth mineral mine in Johnson County, Nebraska, breaking ground on its portal four to five months ahead of schedule. The project is expected to be completed by 2029 and will cost approximately $1.2 billion.
NioCorp has raised over $100 million and is pursuing $780 million from the Export-Import Bank of the United States. The mine aims to supply essential minerals like niobium and scandium domestically, meeting rising demand, especially from the Department of Defense. NioCorp has been developing the mine for 15 years and awaits a final feasibility study to secure federal funding.
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