Critical minerals developer NioCorp Developments Ltd. said its board of directors has approved the company’s Mine Portal project, a major initiative to advance the Elk Creek critical minerals project in Nebraska.
The Mine Portal project will establish the main entrances to the Elk Creek underground mine and will serve as the primary access point for personnel, equipment and materials. The scope also includes excavating to bedrock, drilling and blasting to establish the twin mine ramps, on-site access road construction, and on-site supporting infrastructure.
“Approval of the Portal project is a significant milestone for NioCorp,” said Mark A. Smith, CEO and chairman. “This initiative allows us to advance one of the critical path schedule items for the project as we continue working toward securing the remaining financing needed for the Elk Creek project. We greatly appreciate the strong support shown by Nebraskans and our project partners as we continue advancing.”
The portal will provide access for NioCorp’s planned implementation of the Railveyor system, which NioCorp announced in 2024 as the preferred bulk material handling solution for the Elk Creek project. Utilizing the Railveyor system replaces the previously planned twin-shaft design and, according to the scoping study, is expected to reduce initial capital costs through simplified underground infrastructure and a shorter pre-development schedule.
Work is expected to begin in the first quarter of calendar year 2026. The current estimated capital cost for the project is approximately $44.6 million.
Source: NioCorp Developments