Niobium Mine in Nebraska

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Niobium Mine in Nebraska

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Niobium Mine in Nebraska

High-tech buried treasure

http://www.omaha.com/article/20100505/N ... d-treasure
Paul Hammel WORLD-HERALD BUREAU wrote:LINCOLN - The rolling farmland of southeast Nebraska looks nothing like the rocky landscape typically associated with mining.

But in five years, shafts may be sunk 500 feet beneath the soil to mine what one geologist called “the star elements of the high-tech age.”

A Canadian company announced plans Tuesday to explore construction of a multimillion-dollar mining operation about 70 miles south of Omaha.

The mine would seek niobium, used in producing steel alloys for jet engines, and an array of “rare earth elements” that are used in everything from batteries for laptop computers and electric cars to the powerful magnets in wind-power generators.

An official of Quantum Rare Earth Developments said the company was drawn to a 14-square-mile deposit on the Johnson-Pawnee County line because of increasing demand for such minerals and the political uncertainty of current supplies from places such as China and Brazil.
Paul Hammel WORLD-HERALD BUREAU wrote:The U.S. Geological Survey, Chutter said, identified the Elk Creek formation as “one of the biggest resources of niobium globally. It's certainly the biggest in the U.S.
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http://www.resourceintelligence.net/fre ... gear/16022

New interview on the topic.
The priority is the Nebraska project. The exact extent and amount of work that gets completed down there and the direction of that work will largely be determined by the 43-101 report. We do plan on doing an extensive amount of drilling this year on it and hopefully we will be in a position to start work on either a pre-feasibility or a full feasibility study.
http://seekingalpha.com/article/258667- ... um-numbers

This article says there is twice of their original projections.
Historic numbers from Molycorp (MCP), which tested the area decades ago, estimated about 39 million tons of Niobium at 0.82%. “We had hoped for something in the same range as that,” Dickie adds.
But, in a stunning development, the results reveal a deposit over twice that size, roughly 83 million tons of 0.62% Nb2O5. The results are phenomenal and likely make Elk Creek the largest Niobium deposit in North America.
The full resource calculation erases doubt about the immense size of the Niobium deposit and about the Elk Creek project itself. The news is huge for Quantum Rare Earth, for Nebraska, and for the United States.
“Our drilling in April will help define exactly how big that higher-grade portion is, but it has us quite excited,” Dickie says.
"Exciting" isn’t a word residents of Elk Creek are accustom to hearing, but after these results, they better start getting used to it.
This sounds huge for the state and area.[/img]
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Re: Niobium Mine in Nebraska

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http://journalstar.com/business/local/i ... 6e0af.html
The company that hopes to develop a niobium mine in Johnson County said its initial drilling results are promising.

NioCorp Developments Ltd. said Thursday it sent 752 samples from its first round of drilling at a site near Elk Creek to a lab in Canada and got back results on 230 of the samples. NioCorp CEO Mark Smith said in a news release that the results so far were in line with the company's expectations.

Smith said drilling continues at the site with two rigs, and NioCorp expects to receive several more reports on results over the next couple of months.

NioCorp believes the mineral deposit at the site contains the highest-grade undeveloped niobium in North America. The Vancouver, British Columbia-based company began drilling last month for samples it will use to determine if the rare, heat-resistant metal there can be extracted and sold in quantities to make the mine a go.
NioCorp raised about $5.5 million in the fourth quarter of last year and the first part of this year to pay for the drilling and studies. Industry analysts estimate building the mine would take about $400 million more.
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Re: Niobium Mine in Nebraska

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http://www.omaha.com/news/nebraska/mini ... f6878.html
NioCorp Developments said Monday that the latest drilling results show that the niobium deposit near Elk Creek is even bigger than expected.

The company also said Monday that it plans to raise up to $16.5 million through private placement to support the Elk Creek project.

NioCorp previously estimated that more than 100 million tons of niobium rests several hundred feet below the ground. The company is trying to determine if it will be profitable to build a mine.
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Re: Niobium Mine in Nebraska

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Apparently findings released today say there could be over 6 billion worth of mineral below the ground and the upfront costs could cost up to a billion creating hundreds of jobs over a 40 year period.
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Re: Niobium Mine in Nebraska

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According to NioCorp's home page, this deposit is the only one of its kind in North America. So that's kind of nice.
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Re: Niobium Mine in Nebraska

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iamjacobm wrote:Apparently findings released today say there could be over 6 billion worth of mineral below the ground and the upfront costs could cost up to a billion creating hundreds of jobs over a 40 year period.

Probably well over $6 billion down below there.
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ricko wrote: I'm also encouraged by the discovery of a huge deposit of Niobium (sp?) discovered in southeastern Nebraska. This rare buit strategically critical element, used to strengthen metals for use in aircraft, etc., is only found in large quantities overseas in some potentially unfriendly countries like China. The deposit is estimated to be worth several billion dollars.

Upstart mining company hoping 2016 will be big year for Elk Creek niobium
NICHOLAS BERGIN - Lincoln Journal Star wrote: Honan said building the mine and associated facilities would take about two years. The project will create a peak of 1,000 construction jobs and about 300 permanent jobs.
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Re: Niobium Mine in Nebraska

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Slightly newer article
http://journalstar.com/business/local/n ... 064f0.html

Looks like their numbers have changed in the past few months also.
Smith said. Building the mine is expected to create up to 1,500 construction jobs and 300 to 400 permanent jobs.
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Niobium mine

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I have heard rumors that the Niobium Mine they are building in SE Nebraska is really getting rolling. Supposedly this is going to cost billions just to dig and get up and going and is going to cost more to build then even Google. Its somewhere just SE of Tecumseh and is going to have over 3000 people building it. They have already bored a small hole down 2000 feet and found the niobium 600 feet under the surface. They are going to bore a hole 25 feet in diameter going down 1500 feet and then build an entrance/elevator to go down and mine from. This niobium is real rare and they are going to make a fortune off it they claim. I know this rumor really gets deep huh.
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Re: Niobium mine

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GRANDPASMUCKER wrote:I have heard rumors that the Niobium Mine they are building in SE Nebraska is really getting rolling. Supposedly this is going to cost billions just to dig and get up and going and is going to cost more to build then even Google. Its somewhere just SE of Tecumseh and is going to have over 3000 people building it. They have already bored a small hole down 2000 feet and found the niobium 600 feet under the surface. They are going to bore a hole 25 feet in diameter going down 1500 feet and then build an entrance/elevator to go down and mine from. This niobium is real rare and they are going to make a fortune off it they claim. I know this rumor really gets deep huh.
Pretty cool they found this mineral in Southeast Nebraska of all places. I don't really know all that much about Niobium, but I know SE Nebraska needs jobs
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Re: Niobium mine

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S33 wrote:
GRANDPASMUCKER wrote:I have heard rumors that the Niobium Mine they are building in SE Nebraska is really getting rolling. Supposedly this is going to cost billions just to dig and get up and going and is going to cost more to build then even Google. Its somewhere just SE of Tecumseh and is going to have over 3000 people building it. They have already bored a small hole down 2000 feet and found the niobium 600 feet under the surface. They are going to bore a hole 25 feet in diameter going down 1500 feet and then build an entrance/elevator to go down and mine from. This niobium is real rare and they are going to make a fortune off it they claim. I know this rumor really gets deep huh.
Pretty cool they found this mineral in Southeast Nebraska of all places. I don't really know all that much about Niobium, but I know SE Nebraska needs jobs
The way the rumor went was they can not begin to come up with enough workers in the area to build this mine so they might need "man camps" to house all the workers they are going to need to bring in.
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Re: Niobium mine

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GRANDPASMUCKER wrote:
S33 wrote:
GRANDPASMUCKER wrote:I have heard rumors that the Niobium Mine they are building in SE Nebraska is really getting rolling. Supposedly this is going to cost billions just to dig and get up and going and is going to cost more to build then even Google. Its somewhere just SE of Tecumseh and is going to have over 3000 people building it. They have already bored a small hole down 2000 feet and found the niobium 600 feet under the surface. They are going to bore a hole 25 feet in diameter going down 1500 feet and then build an entrance/elevator to go down and mine from. This niobium is real rare and they are going to make a fortune off it they claim. I know this rumor really gets deep huh.
Pretty cool they found this mineral in Southeast Nebraska of all places. I don't really know all that much about Niobium, but I know SE Nebraska needs jobs
The way the rumor went was they can not begin to come up with enough workers in the area to build this mine so they might need "man camps" to house all the workers they are going to need to bring in.
Probably some surplus housing around the Tecumseh area from all the correctional officers who have fled from the prison...
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Re: Niobium Mine in Nebraska

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http://www.omaha.com/money/long-discuss ... c36eb.html
Like a rocket on a launching pad, a long-discussed niobium mine in southeast Nebraska is ready for liftoff — but only if it gathers $1 billion in financing.

The process of gathering financial commitments is underway in earnest, officials say, with the recent completion of a feasibility study of the project to extract niobium, scandium and titanium from deep mines south of Tecumseh.

By the first quarter of 2018, it should be clear whether all or portions of the mining operation will proceed and the hiring of construction workers can begin, according to Scott Honan and Jim Sims, the president and vice president, respectively, of NioCorp Development Ltd.
The company has already spent about $30 million on the project, which it estimates will require up to 1,200 construction workers, create up to 466 permanent jobs and generate $27 million a year in state and local taxes over the 30-year-plus lifespan of the project.

“This could put Nebraska on the map,” said former State Sen. Lavon Heidemann of Elk Creek, a former miner who has worked as a business development adviser for NioCorp for several years.

The company has contracts to mine under 4,800 acres of land, but its headquarters and processing facilities would be on 640 acres at the intersection of State Highways 50 and 62, just west of the village of Elk Creek.
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Re: Niobium Mine in Nebraska

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iamjacobm wrote:http://www.omaha.com/money/long-discuss ... c36eb.html
Like a rocket on a launching pad, a long-discussed niobium mine in southeast Nebraska is ready for liftoff — but only if it gathers $1 billion in financing.

The process of gathering financial commitments is underway in earnest, officials say, with the recent completion of a feasibility study of the project to extract niobium, scandium and titanium from deep mines south of Tecumseh.

By the first quarter of 2018, it should be clear whether all or portions of the mining operation will proceed and the hiring of construction workers can begin, according to Scott Honan and Jim Sims, the president and vice president, respectively, of NioCorp Development Ltd.
The company has already spent about $30 million on the project, which it estimates will require up to 1,200 construction workers, create up to 466 permanent jobs and generate $27 million a year in state and local taxes over the 30-year-plus lifespan of the project.

“This could put Nebraska on the map,” said former State Sen. Lavon Heidemann of Elk Creek, a former miner who has worked as a business development adviser for NioCorp for several years.

The company has contracts to mine under 4,800 acres of land, but its headquarters and processing facilities would be on 640 acres at the intersection of State Highways 50 and 62, just west of the village of Elk Creek.
I do hope this will come to fruition
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Re: Niobium Mine in Nebraska

Post by ita »

Here is a recent update on this potential mining project.

https://journalstar.com/business/local/ ... bbc85.html

It is still in the works, though behind schedule. They appear to be continuing work on funding and recently completed another feasibility study showing decreased construction costs and increased potential revenue due to a longer projected useful life of few years. This will be huge if it finally starts going. Does anyone know if there are any hidden precious metal deposits anywhere else in Nebraska that we should know about?
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Re: Niobium Mine in Nebraska

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ita wrote: Wed Apr 17, 2019 10:50 am Here is a recent update on this potential mining project.

https://journalstar.com/business/local/ ... bbc85.html

It is still in the works, though behind schedule. They appear to be continuing work on funding and recently completed another feasibility study showing decreased construction costs and increased potential revenue due to a longer projected useful life of few years. This will be huge if it finally starts going. Does anyone know if there are any hidden precious metal deposits anywhere else in Nebraska that we should know about?
If they are hidden how would we know about them...... ;)
For the record  NEBUGEATER does not equal BUGEATER    !!!!!!!
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Re: Niobium Mine in Nebraska

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nebugeater wrote: Wed Apr 17, 2019 10:51 am
ita wrote: Wed Apr 17, 2019 10:50 am Here is a recent update on this potential mining project.

https://journalstar.com/business/local/ ... bbc85.html

It is still in the works, though behind schedule. They appear to be continuing work on funding and recently completed another feasibility study showing decreased construction costs and increased potential revenue due to a longer projected useful life of few years. This will be huge if it finally starts going. Does anyone know if there are any hidden precious metal deposits anywhere else in Nebraska that we should know about?
If they are hidden how would we know about them...... ;)
Haha, true. I was asking just in case I need to by up random plots of land Nebraska. In all seriousness though, considering how vast our state is, there has to be other similar natural resource/precious metal deposits somewhere. I am glad this deposit was found as it will bring well paying jobs and tax revenue to the State for at least a few decades, including construction jobs for building the necessary processing facilities.
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Re: Niobium Mine in Nebraska

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ita wrote: Wed Apr 17, 2019 10:58 am considering how vast our state is
Nebraska is ranked #16 by total area. 77,347 square miles or 2.04% of the US
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Re: Niobium Mine in Nebraska

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I founds several articles about this project with recent updates:

http://netnebraska.org/article/news/119 ... um-project

Niocorp CEO claims they are getting close. They also announced several contractors and engineering firms that will be used for the project, and other updates relevant to pushing this project forward.

http://netnebraska.org/article/news/119 ... impatience

This article gives a fairly detailed update regarding Niocorp's plans for the project as of the recent shareholder's meeting. Shareholders had mixed reactions as there were no further details about construction. However, others are optimistic that the project will find its way to completion over the long haul. Interesting note, about 50 percent of the shareholders are from Nebraska, which is reported to be unconventional for an out of state entity.

The biggest hindrance thus far is the financing. However, the article states that Niocorp has secured up to a $200 million reduction in tax liabilities from the state over the first 10 years of the project. The project is slated to create 1200 construction jobs and 400 permanent jobs over the up to 36 year lifespan of the mine.

The Company claims they can't divulge anymore details concerning the project until they get the green light from legal as they are still negotiating for financing and other aspects of the project.

Here's a rendering of the above ground facilities from the article (it's pretty low grade looking compared to what we get with residential renderings, but the facilities are just big boxes. It's hard to tell how tall it will be, but it looks to be a monument in the area):

Image

https://www.juniorminingnetwork.com/jun ... oject.html

Niocorp was also able to secure extensions on their contracts on some of the land they need to purchase from private owners. However, there is no word on how long the extension is.
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Re: Niobium Mine in Nebraska

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Niocorp secured the last purchase option for land needed for the niobium mining project. Here is the update:

NioCorp Secures Final Land Option Deal for Its Proposed Elk Creek Superalloy Materials Project
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Re: Niobium Mine in Nebraska

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NioCorp's Elk Creek Superalloy Materials Project is Named as an Infrastructure "Project of the Year"
NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB;OTCQX: NIOBF) is pleased to announce that its Elk Creek Superalloy Materials Project (the "Project") has been selected as an "Infrastructure Project of the Year" by CG/LA Infrastructure, the global leader in infrastructure strategy and project development. The award was announced during the CG/LA Infrastructure's 12th North American Infrastructure Leadership Virtual Forum on October 28, 2020, at which NioCorp presented.

NioCorp's Project was originally named as one of the Top 100 infrastructure projects in the U.S. by CG/LA Infrastructure. This week, it was nominated as one of three top projects in the "Finance/Funding" category. The Elk Creek Project then received the most votes from infrastructure and industry leaders, and from the public, to earn the top position in its category.
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Re: Niobium Mine in Nebraska

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Has this broke ground?
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Re: Niobium Mine in Nebraska

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Louie wrote: Mon Nov 02, 2020 3:04 pm Has this broke ground?
I do not think so. They still need financing based on what I've read about the project.
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Re: Niobium Mine in Nebraska

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ita wrote: Mon Nov 02, 2020 3:15 pm
Louie wrote: Mon Nov 02, 2020 3:04 pm Has this broke ground?
I do not think so. They still need financing based on what I've read about the project.
Ah, I see
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Re: Niobium Mine in Nebraska

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Louie wrote: Tue Nov 03, 2020 8:48 am
ita wrote: Mon Nov 02, 2020 3:15 pm
Louie wrote: Mon Nov 02, 2020 3:04 pm Has this broke ground?
I do not think so. They still need financing based on what I've read about the project.
Ah, I see
Here's an update on the financing. In summary, they don't have it yet.

Lacking Major Investors, SW Nebraska Niobium Mine Remains Stalled
During the conference call, he said there are significant players interested, but COVID complicated an already complex negotiation. Smith was asked if the delay reflects doubts major investors may have about the market for the Niobium and Scandium that would be produced by the operation. He Smith, "I can say unequivocally that there is absolute alignment on moving forward on this project, and I couldn't be happier about that."

Over the past several years, the company's management secured most of the necessary government permits, extended and expanded land rights, and lined up an array of contractors prepared to start digging. Chief Operating Officer Scott Honan, speaking during an online briefing following the annual meeting, called the Elk Creek project "shovel ready," a phrase repeatedly heard in past public presentations. This time, however, he adds that the management team "moved as far as we can down the path of project execution in advance of getting project-level financing in place."
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Re: Niobium Mine in Nebraska

Post by ita »

There is an interesting article on this project, mostly identifying many difficulties facing this project:

Money still being raised for $1 billion Nebraska mine. Will it ever happen?
Paul Hammel
Six years after the drilling of exploratory holes, and a decade after leases were signed with landowners, a mine shaft still hasn’t been started at a proposed $1 billion critical minerals mine in southeast Nebraska.

More than half of the 6,000 investors in a proposed niobium mine near Elk Creek, about 64 miles southeast of Lincoln, are from Nebraska. And they’ve placed a high-risk bet that financing for the mine will materialize, bringing hundreds of high-paying jobs to a region starving for them.

But promoters of the Elk Creek Superalloy Materials Project recently moved to provide more time to raise money, after once predicting that phase would wrap up in 2018.
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Re: Niobium Mine in Nebraska

Post by ricko »

Connecting the dots:

Just heard news on the radio that China is considering an embargo on "rare earth" minerals that are considered strategic elements for our defense industries. China controls about 80% of the world's niobium; might see some action in Elk Creek soon.
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Re: Niobium Mine in Nebraska

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ricko wrote: Tue Feb 16, 2021 12:26 am Connecting the dots:

Just heard news on the radio that China is considering an embargo on "rare earth" minerals that are considered strategic elements for our defense industries. China controls about 80% of the world's niobium; might see some action in Elk Creek soon.
They just bought the land that the mine is going to be located on a few days ago.

World Herald article-https://omaha.com/news/state-and-region ... 1ce4c.html
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Re: Niobium Mine in Nebraska

Post by Louie »

GrandpaaSmucker wrote: Wed Feb 24, 2021 9:34 am
ricko wrote: Tue Feb 16, 2021 12:26 am Connecting the dots:

Just heard news on the radio that China is considering an embargo on "rare earth" minerals that are considered strategic elements for our defense industries. China controls about 80% of the world's niobium; might see some action in Elk Creek soon.
They just bought the land that the mine is going to be located on a few days ago.

World Herald article-https://omaha.com/news/state-and-region ... 1ce4c.html
Was that the final hurdle?
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Re: Niobium Mine in Nebraska

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NioCorp's Elk Creek Project Confirmed as the Second Largest Indicated-Or-Better Rare Earth Resource in the U.S.
CENTENNIAL, Colo., May 19, 2022 /PRNewswire/ -- An updated feasibility study of NioCorp Developments Ltd.'s ("NioCorp" or the "Company") (TSX: NB;OTCQX: NIOBF) Elk Creek Project (the "Project") shows that the Project is the second-largest indicated-or-better rare earth resource in the U.S., second only to MP Materials' Mountain Pass rare earth deposit.

The Company has completed an updated feasibility study (the "2022 Feasibility Study") in collaboration with Understood Mineral Resources Ltd., Optimize Group Inc., and Dahrouge Geological Consulting Ltd. Rare earth elements ("REEs") were evaluated as a potential by-product to the mining of niobium, titanium, and scandium; thus the estimated values of the REEs are reported using the previously determined diluted Net Smelter Return ("NSR") as derived from the Nb2O5, TiO2, and scandium Mineral Resources. According to the 2022 Feasibility Study, the Elk Creek Project contains an estimated 632.9 kilotonnes ("kt") of contained total rare earth oxides ("TREO") in the indicated mineral resource category.[1] According to U.S. Geological Survey data,[2] this places the Elk Creek Mineral Resource behind MP Materials' Mountain Pass deposit in the U.S. but ahead of all other current rare earth projects in terms of contained TREO from a NI 43-101 rare earth resource of indicated or higher classification.

According to the 2022 Feasibility Study, in addition to relatively high grades of niobium, scandium, and titanium, the Elk Creek Mineral Resource contains various amounts of all. There is potential for NioCorp's REEs to be mined, crushed, and placed into solution as part of the process NioCorp plans to use to produce its primary niobium, scandium, and titanium products once Project financing is secured. Depending upon the outcome of metallurgical testing on REE recovery rates from Elk Creek ore, now being conducted at a demonstration plant in Quebec, and whether necessary Project financing is secured, NioCorp could produce separated rare earths as a byproduct, placing it at a competitive advantage vis-à-vis other rare earth projects.
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Re: Niobium Mine in Nebraska

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Image
Stable genius.
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Re: Niobium Mine in Nebraska

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NioCorp testing rare earth samples from Elk Creek
ELK CREEK - NioCorp is beginning testing of rare earth samples from its proposed mine near Elk Creek.

The testing is taking place in Quebec, Canada, to demonstrate that the company can extract rare earth elements from ore that NioCorp expects to mine in Johnson County.

NioCorp claims it will use a simplified and economically feasible process for producing elements, such as niobium and titanium.

Chief Operating Office Scott Honan said the new processes for rare earth extraction and the use of leaching to separate niobium and titanium have already been successfully tested on a bench scale.

He said conclusive data from the tests in Canada will be updated in the Elk Creek Feasibility Study and made public.
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Re: Niobium Mine in Nebraska

Post by Louie »

It's crazy how long this project has taken to not even materialize. Going on 16.5 years.
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Re: Niobium Mine in Nebraska

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Long-delayed NioCorp mine announces deals that could bring more investment
About $80 million has been invested so far in the $1.1 billion project; another $366 million is envisioned in merger, loan deals


LINCOLN — A long-delayed mining project in southeast Nebraska announced Monday that it was entering into agreements that could lead to an additional $366 million of investment in its $1.1 billion project. So far, NioCorp has raised about $80 million toward opening of its proposed “critical minerals” mine, a company spokesman said. The mine would be located near Elk Creek, a farm town south of Tecumseh and about 80 miles south of Omaha. On Monday, the Colorado-based company announced that it is planning to acquire GX Acquisition Corp. and intends that the merged firm will be listed on the Nasdaq Stock Exchange after the acquisition closes, which is expected in the first quarter of 2023.

Deals could lead to $366 million

The acquisition, according to NioCorp, “could” result in access to an additional $285 million toward NioCorp’s Elk Creek Critical Minerals Project, depending on the redemption rate of current GXII stockholders. Also on Monday, NioCorp announced letters of intent with Yorkville Advisors Global on two loans to realize an additional $81 million for the project. In a press release, NioCorp CEO and Executive Chairman Mark A. Smith said the combination of developments on Monday “have the potential to significantly accelerate our efforts” to make the Elk Creek project a reality.

Discussed since 1970s

The underground mine, which has been discussed since the 1970s, would extract niobium, scandium and titanium, minerals used to harden steel, make aluminum stronger and as a pigment in paint. More than a decade ago, developers of the project began signing leases with landowners in the Elk Creek area and had initially said they would wrap up the investment phase of the project in 2018 but later extended the timeline.

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Gov. Pete Ricketts (Paul Hammel/Nebraska Examiner

The mine has whipped up considerable interest in Nebraska, in part because of projections that it could bring 450 permanent jobs, paying upwards of $60,000 each, to southeast Nebraska. Over half of the investors in the project are from Nebraska, and the state has authorized tax breaks for the mine amounting to $200 million.

Ricketts sees ‘a huge benefit’

“I think it will be a huge benefit to the State of Nebraska,” Gov. Pete Ricketts said Monday in response to a question on his monthly radio call-in show. He noted that workers would need specialized mining experience and would likely be new residents. In recent months, NioCorp has said it is also exploring whether the mine could produce “rare earth” minerals that are used in the production of magnets and rechargeable batteries used in cell phones and electric cars.
President Joe Biden has called for domestic production of such rare earth minerals because such production is now dominated by China. Jim Sims, a NioCorp spokesman, said Monday that no decision has been made about adding rare earth minerals to the project. “We are currently conducting technical and economic analyses on the potential,” he said.
ita
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Re: Niobium Mine in Nebraska

Post by ita »

Rare earth metal mining coming to Nebraska
Brian Mastre
Most of us don’t know what niobium is. But when it’s added to steel, it doubles its strength.

Currently, we import all of it. But that will change when a company starts mining for it in southeastern Nebraska.

“You probably don’t look at cars like I do,” said Mark Smith, CEO of NioCorp. “I see cars. I see niobium. every single car that has a steel chassis has it. It makes the car lighter, which means the car can go further on a tank of gas. It’s part of the environment movement.”

Recently, NioCorp started clearing trees and brush from the property in Elk Creek, Neb., to get ready.

As soon as the financing details are complete, estimated to happen in the first part of 2023, construction of the plant will begin. It’s expected to take three years to build.
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Re: Niobium Mine in Nebraska

Post by Coyote »

Rare minerals mining project planned in southeast Nebraska

NioCorp is planning to set up a niobium mine near Elk Creek.
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Re: Niobium Mine in Nebraska

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Company gets a bit closer to raising $1.1B it needs for Nebraska mine


A mining company that wants to extract a collection of rare elements from beneath southeast Nebraska raised funds Wednesday toward its goal of finding the $1.1 billion it needs to build the mine that has been in the works for decades.

Shareholders of a special purpose acquisition company called GX Acquisition Corp. II overwhelmingly approved merging with NioCorp, a Centennial, Colorado-based mining company, according to a regulatory filing. About $15 million from the deal will go to NioCorp, the company said.
ita
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Re: Niobium Mine in Nebraska

Post by ita »

Coyote wrote: Thu Mar 16, 2023 8:59 am
Company gets a bit closer to raising $1.1B it needs for Nebraska mine


A mining company that wants to extract a collection of rare elements from beneath southeast Nebraska raised funds Wednesday toward its goal of finding the $1.1 billion it needs to build the mine that has been in the works for decades.

Shareholders of a special purpose acquisition company called GX Acquisition Corp. II overwhelmingly approved merging with NioCorp, a Centennial, Colorado-based mining company, according to a regulatory filing. About $15 million from the deal will go to NioCorp, the company said.
Biggest update is that Niocorp has a soft commitment from the Export-Import Bank of the United States for up to $800 million in financing. Additionally, they have been able to generate about $70 million to move the project forward. Here's another article about the deal.

NioCorp Gains Access to as Much as $71.9 Million in Net Proceeds Over the Next Three Years from its SPAC Transaction and Two Additional Financings as it Prepares to Launch Trading on the Nasdaq Stock Market
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Re: Niobium Mine in Nebraska

Post by the1wags »

Deal with Stellantis.

Colorado company seeking to mine Nebraska for rare earth minerals needed in EVs signs deal with carmaker

https://coloradosun.com/2023/07/06/colo ... re-earths/
The Associated Press wrote:The Colorado company that wants to mine for critical minerals in southeast Nebraska has signed a deal with Stellantis, giving the automaker access to the rare earth elements used to produce high-powered magnets needed for its electric vehicles.
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