KEY POINTS
- $1.14 billion project includes $44.6M main entrance "portal", 400 jobs.
- Mine targets domestic niobium, scandium, titanium supply, reducing import dependence.
- Project expected to generate over $600 million in state, local taxes.
A long-planned critical minerals mine in Nebraska has officially entered on-site pre-construction. NioCorp Developments began work this week on the main underground entrance, known as a “portal,” for the Elk Creek Critical Minerals Project.
What minerals will be mined in Elk Creek?
Located near Elk Creek, about 80 miles south of Omaha, the project is described as North America’s only niobium‑scandium‑titanium mine and processing facility. NioCorp says the project holds one of the highest‑grade niobium resources and the second-largest indicated rare earth resource in the U.S. A facility in Mountain Pass, California is the country’s largest.
Where does the U.S. currently get these minerals?
Currently, the U.S. relies entirely on imports of niobium, a metal used in some high-strength steels, and scandium, a soft metal used in certain aluminum alloys and battery technologies. Titanium is largely imported as well, coming from a handful of countries. Brazil is the largest supplier of niobium to the U.S., while China provides most of the scandium. NioCorp aims to help cut down on imports and provide domestically processed supply of these minerals as demand continues to grow at a rapid pace.
“Mining has always provided the essential input materials to build our world,” Alex Carrick, former chief economist for ConstructConnect, said in a recent commentary for ConstructConnect News. “However, we are now seeing unprecedented demand for elements vital to environmental clean-up efforts and high-tech research in battery storage, robotics, and artificial intelligence.”
How much will the Elk Creek Critical Minerals project cost?
The broader Elk Creek Critical Minerals Project carries an estimated upfront capital cost of approximately US$1.14 billion, based on NioCorp’s 2022 feasibility study. Construction of the portal alone carries a price tag of about $44.6 million and is expected to last around nine months.
So far, NioCorp Chairman and CEO Mark A. Smith says the company has raised about $500 million in capital investment.
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