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Elk Creek Today
By the People, for the People
NioCorp Begins Construction on Elk Creek Mine Portal
The $44.6 million project will serve as the primary access point for the critical minerals mine in southeastern Nebraska.
Mar. 4, 2026 at 5:49pm
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Colorado-based NioCorp, the owner of the Elk Creek critical minerals project in southeastern Nebraska, has started construction on the $44.6 million main access portal to the mine's underground portion. The portal will serve as the primary access point for personnel, equipment, materials, and ore delivery from the underground mine to the surface production plant.
Why it matters
The Elk Creek project is a significant critical minerals development that will help reduce U.S. reliance on foreign sources of rare earth and other critical elements. The start of portal construction marks a major milestone in bringing the project online and advancing domestic critical minerals production.
The details
NioCorp has mobilized construction equipment to the site near Elk Creek and filed a formal Notice of Commencement with the Mine Safety and Health Administration (MSHA) to kick off the portal construction. The company has raised around $500 million in capital investment over the past year to enable more intensive project advancement, including this pre-construction work on the underground mine.
- NioCorp filed the Notice of Commencement with MSHA in March 2026 to start the portal construction.
- The company raised approximately $500 million in capital investment in 2025 and year-to-date in 2026 to fund the project.
The players
NioCorp
A Colorado-based company that owns the Elk Creek critical minerals project in southeastern Nebraska.
Mark A. Smith
The chairman and CEO of NioCorp.
Export-Import Bank of the U.S. (EXIM)
The official export credit agency of the federal government that NioCorp is working with on proposed debt financing for the project.
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
What’s next
NioCorp is working to secure full project financing, including proposed debt financing from the Export-Import Bank of the U.S., to enable a formal construction launch of the entire Elk Creek critical minerals project.
The takeaway
The start of construction on the Elk Creek mine portal represents a significant milestone in advancing domestic critical minerals production and reducing U.S. reliance on foreign sources of rare earth and other critical elements. NioCorp's success in raising substantial capital investment over the past year has enabled this pre-construction work to move forward.