NioCorp Launches Drilling Campaign to Advance Elk Creek Project

NioCorp Developments ( (NB) ) has provided an update.

NioCorp Developments Ltd. is set to begin a 12-week drilling program at its Elk Creek Project in Nebraska to support an updated feasibility study. This initiative is part of the company’s strategy to convert indicated resources into measured resources and probable mineral reserves into proven reserves, which is crucial for securing up to $800 million in debt financing from the U.S. Export-Import Bank. The project aims to produce critical minerals that are increasingly important due to geopolitical tensions, particularly with China’s recent export restrictions. The updated feasibility study will also refine the engineering of a new production process, potentially enhancing the company’s market position by including light and heavy magnetic rare earth oxides and other valuable minerals.

More about NioCorp Developments

NioCorp Developments Ltd. is focused on developing a critical minerals project in Southeast Nebraska, aimed at producing niobium, scandium, and titanium. The company is also exploring the potential to produce rare earth elements. Niobium is essential for creating specialty alloys and high-strength, low-alloy steel, which are used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with other elements for various applications.

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