NioCorp Developments Ltd. has received board approval to move forward with construction of a mine portal at its Elk Creek Critical Minerals Project, marking a key milestone in advancing the Nebraska-based underground mining development. The Mine Portal Project will establish the primary entrances to the underground mine and serve as the central access point for personnel, equipment, and materials.
According to the company, work on the portal is expected to begin in the first quarter of calendar year 2026, with the project carrying an estimated capital cost of approximately $44.6 million. The board-approved scope includes excavation to bedrock, drilling and blasting to form twin mine ramps, construction of on-site access roads, and development of supporting infrastructure needed for future underground operations.
The portal will also enable the implementation of NioCorp’s planned Railveyor™ material handling system, which the company selected in 2024 as its preferred solution for moving bulk materials at Elk Creek. The Railveyor™ system replaces a previously planned twin-shaft mine design and is expected to lower upfront capital costs while streamlining underground development timelines.
The electrically powered Railveyor™ system, along with NioCorp’s electric underground mining equipment, is expected to deliver environmental, safety, and operational advantages compared to traditional diesel-powered mining methods.
“Approval of the Portal Project is a significant milestone for NioCorp,” said Mark A. Smith, CEO and Chairman of NioCorp. “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.”
Company leadership emphasized that the portal marks the beginning of large-scale pre-construction activity at the site.
“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,” said Scott Honan, President and Chief Operating Officer of NioCorp. “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.”
NioCorp is developing the Elk Creek Project to produce niobium, scandium, and titanium, with the potential to also recover rare earth elements critical to defense, clean energy, and advanced manufacturing applications. The company continues to pursue remaining project financing while advancing early construction activities to maintain development momentum.
Originally reported by Access News Wire.
