NioCorp Developments Ltd’s Board of Directors has approved the Mine Portal Project, a major initiative to advance the Elk Creek critical minerals project, in Nebraska, USA.
The Portal Project will establish the main entrances to the Elk Creek project underground mine and will serve as the primary access point for personnel, equipment and materials for the company’s planned underground mining operations. The Board-approved scope also includes excavating to bedrock, drilling and blasting to establish the twin mine ramps, on-site access road construction, as well as on-site supporting infrastructure. Work is expected to begin in the March quarter of 2026 and the current estimated capital cost for the project is approximately $44.6 million.
The portal will provide access for the company’s planned implementation of the Railveyor™ system, which NioCorp announced in 2024 as the preferred bulk material handling solution for the Elk Creek project. Utilising the Railveyor system, NioCorp says, replaces the previously planned twin-shaft design and, according to the scoping study, is expected to reduce initial capital costs through simplified underground infrastructure and a shorter pre-development schedule.
The Railveyor system will run on electricity, as will all of NioCorp’s underground mining equipment, offering potential environmental, safety and operational benefits when compared with conventional diesel-powered underground mining systems, NioCorp says.
“Approval of the Portal Project is a significant milestone for NioCorp,” Mark A. Smith, CEO and Chairman of NioCorp, said. “This initiative allows us to advance one of the critical path schedule items for the project as we continue working toward securing the remaining financing needed for the Elk Creek project. We greatly appreciate the strong support shown by Nebraskans and our project partners as we continue advancing.”
Scott Honan, President and Chief Operating Officer of NioCorp, added: “Given the size of this excavation work, the Portal Project really marks the beginning of a major pre-construction activity at the Elk Creek project site and is an important step toward preparing for underground development. Advancing this work now helps keep our schedule moving. It’s going to be exciting for the community to see major activity at the site – something many of us have been looking forward to for quite some time.”
A 2022 feasibility study outlined a project able to process 36.7 Mt of of ore over a 38-year life of mine to produce 171,140 t of niobium in the form of ferroniobium, 3,676 t of Sc2O3 and 431,793 t of TiO2. Rare earths have been added to the mineral resource, and the indicated resource contains 632,900 t of total rare earth oxides.