NioCorp's updated feasibility study pegs Elk Creek Critical Minerals Project at $4 billion

NioCorp Developments unveiled the results of an updated feasibility study on Tuesday for its Elk Creek critical minerals project, located in southeastern Nebraska. According to the company, the study projects the development of a 40-year, fully integrated U.S. operation with a net present value (NPV) exceeding $4 billion, capable of producing eight critical-mineral products from a single ore body. All eight products-including ferroniobium, scandium trioxide, titanium tetrachloride, and a range of rare earth oxides such as neodymium-praseodymium oxide, dysprosium oxide, terbium oxide, samarium-europium-gadolinium carbonate, and heavy rare earth carbonate-are designated as critical minerals by the U.S. government.

The 2026 Technical Report establishes a larger, higher-confidence Mineral Reserve base, underpinning the project's extended lifespan. As of April 2, 2026, the Elk Creek Mineral Reserve totals 45.9 million tons, grading Nb?O? at 0.76%, TiO? at 2.68%, Sc at 69.3 ppm, and TREO at 3,446 ppm. This comprises 7.6 million tons of Proven and 38.4 million tons of Probable Mineral Reserves. The 2026 estimate marks the first inclusion of a Proven Mineral Reserve and, for the first time, incorporates rare earth elements into the Reserve classification---both of which support the expanded portfolio of eight critical mineral products and a mine life of 40 years.

Over the life of the mine, average annual production is forecast at 8,095 tonnes of ferroniobium, 118 tonnes of scandium oxide, 672 tonnes of neodymium-praseodymium oxide, 17 tonnes of terbium oxide, 67 tonnes of dysprosium oxide, 354 tonnes of SEG carbonate, 262 tonnes of heavies carbonate, and 59,820 tonnes of titanium tetrachloride.