Colorado-based NioCorp, owner of the Elk Creek critical minerals project in southeastern Nebraska, has kicked off construction for the site’s main access to the mine’s underground portion.
With detailed engineering well underway and construction equipment mobilized to the site near Elk Creek, NioCorp has started work on the $44.6 million section of the project.
The portal will serve as the primary access point for personnel, equipment, and materials, and also to deliver ore from the underground mine to the surface production plant. The company filed a formal Notice of Commencement with the Mine Safety and Health Administration (MSHA) in conjunction with the effort.
“Our success in raising approximately $500 million in capital investment in 2025 and year-to-date in 2026 is enabling more intensive project advancement across the table, including pre-construction of our underground mine in southeast Nebraska, strengthening our position with the Export-Import Bank of the U.S. (EXIM) for our proposed debt financing, and building out our team in Nebraska to prepare for a formal construction launch of the entire project once we secure full project financing,” said Mark A. Smith, chairman and CEO.
“I am very gratified with the strong investment support from markets that NioCorp and the Elk Creek project continue to receive.”
A formal groundbreaking is being planned once a final investment decision is made. For now, the mine portal’s construction advances Elk Creek from a planning phase into pre-construction.
“Establishing underground access is a foundational step that brings us that much closer to unlocking the value of this large, polymetallic orebody,” Smith said. “We elected to advance this critical pre-construction work now to help streamline the development path toward full construction while we continue working toward securing the remaining financing needed for the Elk Creek project.”
As currently configured, the Elk Creek project plans to produce multiple products from minerals designated as critical, including niobium, scandium, titanium, and potentially several individual rare earth elements.
Source: NioCorp