Rare Earth Elements & Critical Minerals in Nebraska–NioCorp Developments Part of American Mining Resurgence?

Highlights

• NioCorp is developing a groundbreaking critical minerals project in Nebraska.
• The project will produce niobium, scandium, and titanium.
• This will create the first US niobium production capability in decades.
• The project has the potential to become a significant rare earth elements producer.
• It has a $2.8 billion pre-tax Net Present Value.
• The projected mine life is 38 years.
• The project supports sustainable technological advancements.
• It aims to reduce US mineral dependency.

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NioCorp Developments Ltd. (opens in a new tab) is advancing its Elk Creek Critical Minerals Project in Nebraska. The project (opens in a new tab) aims to produce niobium, scandium, titanium, and potentially rare earth elements, which are vital for various defense and commercial technologies. The company seeks to position itself as a key domestic supplier of these critical minerals, thereby reducing the U.S. dependence on foreign sources. This initiative aligns with recent concerns over China’s increased export restrictions on essential minerals, underscoring the importance of developing local supply chains.

Overview

This US-based mineral development company aims to produce niobium, scandium, and titanium from a single ore body. 

In a nutshell, the company does the following:

• Develop critical minerals, including niobium, scandium, and titanium
• Evaluate the potential to produce rare earths
• Produce lightweight metals that help reduce harmful air emissions

What’s important about their project?

• The project will establish the US’s first niobium production capability in decades. 
• The project will make the US and Nebraska global leaders in scandium production. 
• The project’s products are critical to technologies that reduce harmful air emissions.

Where are they located?

• NioCorp’s headquarters are located at 7000 S. Yosemite, Suite 115, Centennial, CO 80112

How do they report their finances?

• NioCorp files quarterly and annual financial statements with the US Securities and Exchange Commission (SEC)

Who are their board members?

• Mark A. Smith, Board Chair, President, and CEO
• David C. Beling, P.E., Director
• Dean Kehler, Director
• Michael Maselli, Director

The Elk Creek Critical Minerals Project is a shovel-ready initiative near Elk Creek, Nebraska. It will become North America’s only niobium, scandium, and titanium mine and processing facility. The project aims to reduce the U.S. dependence on critical minerals and support global efforts toward net-zero CO₂ emissions.

Key Highlights:

• Niobium Production—The project boasts the highest-grade niobium resource in North America. Niobium is essential for producing High-Strength, Low-Alloy (HSLA) steel, which is utilized in automotive, structural, and pipeline applications. The demand for niobium is expected to grow, particularly with advancements in rapid-charging solid-state titanium niobium lithium-ion batteries.
• Scandium Production—Once full-scale production is complete, Elk Creek is poised to become a significant U.S. producer of scandium. When alloyed with aluminum, scandium enhances strength and corrosion resistance, making it valuable in the commercial aviation and automotive sectors.
• Rare Earth Elements (REEs)–NioCorp is evaluating the potential to produce several magnetic rare earth oxides, including neodymium, praseodymium, terbium, and dysprosium. These elements are critical for manufacturing Neodymium-Iron-Boron (NdFeB) magnets, which have applications in various defense and civilian technologies.

Feasibility and Economic Impact:

A feasibility study completed in June 2022 indicates a pre-tax Net Present Value of $2.8 billion and an internal rate of return of 29.2%, with a projected mine life of 38 years. The study also highlights that the project’s rare earth indicated resource is the second largest in the U.S., following MP Materials’ Mountain Pass deposit in California.

Commitment to Sustainability

The company declares that the project is designed with a strong focus on environmental, social, and governance (ESG) principles. It aligns with the Equator Principles ESG Framework and incorporates various sustainability features, including recycling and water conservation strategies.

The Site

The Elk Creek Critical Minerals Project aims to establish a domestic supply of essential minerals, thereby enhancing U.S. economic security and contributing to sustainable technological advancements.