NioCorp Begins Construction of Elk Creek Critical Minerals Project Mine Portal

The $44.6 million effort will establish the main access point for personnel, equipment, and materials to the underground mine.

Published on Feb. 26, 2026

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NioCorp Developments Ltd., a leading U.S. critical minerals developer, has announced the start of construction on the main access portal for the underground portion of its Elk Creek Critical Minerals Project in southeast Nebraska. This $44.6 million effort will create the primary entry point for the mine, serving as the access for personnel, equipment, and materials, as well as the delivery point for ore from the underground mine to the surface production plant.

Why it matters

The launch of the portal construction marks a significant milestone for the Elk Creek Project, moving it from the planning phase into pre-construction at the Nebraska site. Establishing this underground access is a foundational step that brings NioCorp closer to unlocking the value of the large, polymetallic orebody, which is expected to produce critical minerals like niobium, scandium, and titanium, and potentially rare earth elements.

The details

With detailed engineering underway and construction equipment mobilized to the project site, NioCorp has filed a formal 'Notice of Commencement' with the Mine Safety and Health Administration (MSHA) to begin the approximately nine-month effort to construct the mine's main entrance, or 'portal.' This portal will serve as the primary access point for personnel, equipment, and materials, as well as the delivery point for ore from the underground mine to the surface production plant.

  • NioCorp has launched the $44.6 million portal construction effort.
  • The portal project is expected to take approximately nine months to complete.

The players

NioCorp Developments Ltd.

A leading U.S. critical minerals developer that is advancing the Elk Creek Critical Minerals Project in southeast Nebraska.

Mark A. Smith

Chairman and CEO of NioCorp.

Scott Honan

COO of NioCorp and President of Elk Creek Resources Corp.

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What they’re saying

“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.”

— Mark A. Smith, Chairman and CEO of NioCorp (NioCorp Developments Ltd.)

“Establishing underground access is a foundational step that brings us that much closer to unlocking the value of this large, polymetallic orebody.”

— Mark A. Smith, Chairman and CEO of NioCorp (NioCorp Developments Ltd.)

“This project is a substantial excavation effort and marks a vital step on the critical path for commencing operations at Elk Creek. Over the next approximately nine months, our team will focus on executing the portal project safely and efficiently.”

— Scott Honan, COO of NioCorp and President of Elk Creek Resources Corp. (NioCorp Developments Ltd.)

What’s next

NioCorp plans to host a formal groundbreaking ceremony once a final investment decision is made by the Board of Directors following the completion of the project financing effort.

The takeaway

The launch of the Elk Creek Project's mine portal construction represents a significant milestone for NioCorp, as the company moves closer to unlocking the value of this critical minerals resource and establishing a new domestic supply of key materials like niobium, scandium, and potentially rare earth elements.