Mine profile
Elk Creek: location, owner, status and timeline (2026)
Development Nebraska
Elk Creek, in Johnson County, southeast Nebraska, is a niobium, scandium, titanium and magnet rare earth project that NioCorp Developments (Nasdaq: NB) plans to mine underground. A 2026 feasibility study shows a 40-year life and $1.85B of initial capital, and the company targets construction start in Dec 2026, subject to financing.
Verified through Oct 1, 2026
Status and timeline Report a correction All US rare earth mines
Where is Elk Creek?
Elk Creek is in Johnson County, southeast Nebraska, 3 miles west of the village of Elk Creek and 6 miles south of Tecumseh. It is a different project from Ramaco's coal complex of the same name in West Virginia.
The deposit is a carbonatite that was found by drilling in 1971. Molycorp drilled it between 1973 and 1986, completing 57 holes in the Elk Creek gravity anomaly area by 1984, in a search for rare earths. NioCorp, then called Quantum Rare Earth Developments, drilled in 2011 and again from 2014 to 2016.
The plan is an underground mine reached through a portal. The project avoids federal jurisdictional waters, so the US Army Corps of Engineers determined it does not need a federal permit or a National Environmental Policy Act review.
Who owns Elk Creek?
NioCorp Developments Ltd (Nasdaq: NB) owns Elk Creek. The company is headquartered in Centennial, Colorado, is led by chief executive Mark Smith, and had 14 full-time employees and 4 contractors on Jun 30, 2026. Its only project is Elk Creek.
NioCorp had 145,849,630 common shares outstanding on Sept 25, 2026. It raised about $467.2M of net equity in fiscal 2026 and over $370M in calendar 2025, and in Dec 2025 it bought FEA Materials for $8.4M. See NioCorp Developments: what it does, projects, funding and status.
What is the status and timeline of Elk Creek?
Elk Creek is in "Development": it has a completed 2026 feasibility study, its major permits and an underground portal under construction. The company needs project financing before full construction, which it targets for Dec 2026.
- 1971
Drilling finds the Elk Creek carbonatite.
- 1973 to 1986
Molycorp drills the deposit, completing 57 holes in the Elk Creek gravity anomaly area by 1984.
- 2011
Quantum Rare Earth Developments, later NioCorp, drills the property.
- 2014 to 2016
NioCorp runs a third drilling program.
- Jun 2, 2020
Nebraska issues the state air construction permit.
- 2022
A feasibility study shows an NPV of $2.35B and capital of $1.14B for three products.
- Apr 15, 2024
EXIM issues a Preliminary Project Letter.
- 2025
EXIM advances the application to independent technical review; NioCorp raises over $370M, including a $10M Department of War grant.
- Dec 4, 2025
NioCorp acquires FEA Materials for $8.4M.
- Feb 26, 2026
Construction of the $44.6M underground portal begins.
- Aug 2026
The 2026 feasibility study is released: eight products, 40-year life, NPV of $3.44B and capital of $1.85B.
Next milestones
- Dec 2026
Full construction is targeted to start, subject to project financing.
What would Elk Creek mine and produce?
Elk Creek would produce eight products from one underground ore body: ferroniobium, scandium oxide, titanium tetrachloride, NdPr oxide, dysprosium oxide, terbium oxide and two rare earth carbonates. The 2026 study gives a 40-year mine life.
OSTI cites a resource of 360 Mt containing 1.04 Mt of TREO at about 0.30%, a low grade in which the rare earths are a secondary stream next to niobium. The 2026 study widens the product list to include terbium, dysprosium and heavy rare earth carbonate.
| Product or measure | Life-of-mine total | Average per year (derived) |
|---|---|---|
| Ferroniobium | 205,464 t | About 5,100 t |
| Scandium oxide | 4,585 t | About 115 t |
| NdPr oxide | 25,923 t | About 650 t |
| Dysprosium oxide | 2,649 t | About 66 t |
| Terbium oxide | 690 t | About 17 t |
| Initial capital; after-tax NPV at 8% | $1.85B; $3.44B | Not applicable |
Averages are life-of-mine totals divided by 40 years and are not a production forecast for any single year. Titanium tetrachloride (2.34 Mt over the life) and two rare earth carbonates are also planned. The 2022 study showed an NPV of $2.35B and capital of $1.14B for three products.
How would Elk Creek be processed and who would buy the output?
NioCorp plans an integrated processing plant at the Elk Creek site to separate all eight products. About 75% of its niobium is under offtake and 12 t/yr of scandium is contracted, while the rare earth products have no published offtake in the sources checked.
The 2026 study redesigned the mine and plant to make eight products instead of three, which is why initial capital rose 62%, from $1.14B to $1.85B, alongside inflation since 2022. The company says the project would be a US source of niobium and scandium, which the US largely imports.
Construction of the underground portal began on Feb 26, 2026 on a budget of $44.6M, with about $5.6M spent by Jun 30, 2026. NioCorp says it needs $65M to $75M over the next twelve months and has engaged J.P. Morgan to assist with financing.
What permits and community issues affect Elk Creek?
Elk Creek holds its key permits, including a Johnson County special use permit and a Nebraska air construction permit issued on Jun 2, 2020. NioCorp reports having all permits needed to start construction, and local coverage describes broad community support with groundwater as the main concern.
The Army Corps of Engineers jurisdictional determination found the project avoids federal waters, so no federal permit or environmental review under NEPA is required. This is why Elk Creek is not on the FAST-41 list, unlike Bear Lodge.
Elk Creek is close to a town of about 100 people, and local coverage has described overwhelming community support, with the effect of mining on groundwater quality and quantity a recurring concern. No lawsuit by residents was found in the sources checked.
The main open risk is financing and not permitting. NioCorp's annual report warns that there is no assurance it will negotiate a final EXIM commitment, and that EXIM's board must give final approval.
What government support has Elk Creek received?
Elk Creek has a $10M Department of War grant, of which about $8.1M had been received by Jun 30, 2026, and an EXIM loan application of about $780M to $800M in independent technical review. No loan has been approved.
| Agency and instrument | Amount | When | Status |
|---|---|---|---|
| Department of WarGrant. About $8.1M received by Jun 30, 2026 | $10M | 2025 | Closed |
| EXIMLoan application. Independent technical review; no final commitment | $780M to $800M | 2024 to 2026 | In review |
The EXIM application received a Preliminary Project Letter on Apr 15, 2024 and moved to independent technical review in 2025. The size is scaled to US jobs supported. See the government support tracker.
Questions about Elk Creek
Where is the Elk Creek project?
Elk Creek is in Johnson County, southeast Nebraska, 3 miles west of the village of Elk Creek and 6 miles south of Tecumseh. Ramaco's Elk Creek coal complex in West Virginia is a different place.
Who owns Elk Creek?
NioCorp Developments Ltd (Nasdaq: NB) owns the Elk Creek project. The company is based in Centennial, Colorado, is led by chief executive Mark Smith, and has 14 full-time employees.
Is Elk Creek mainly a rare earth project?
No. Niobium is the main product, with scandium, titanium and magnet rare earths in the 2026 plan. The rare earths are secondary by resource grade, at about 0.30% TREO, but they add dysprosium and terbium.
When will Elk Creek start construction?
NioCorp targets construction start in Dec 2026, subject to project financing. The underground portal began construction on Feb 26, 2026, and the full plant depends on an EXIM loan or other financing.
How much will Elk Creek cost to build?
The 2026 feasibility study estimates initial capital of about $1.85B, up 62% from $1.14B in 2022. The increase reflects inflation and a larger plant that makes eight products instead of three.
Has EXIM approved a loan for Elk Creek?
No. NioCorp has an application of about $780M to $800M in independent technical review. EXIM's board must give final approval, and NioCorp says there is no assurance it will get a final commitment.
Sources and verification
Each profile lists its sources, a confidence grade and a verification date. Order of authority: official records (SEC filings, agency documents), company documents and technical reports, research papers, then independent press. Syndicated copies and reference works are labeled and are never the only source for a number. Company-reported figures are labeled as such, and non-binding deals are labeled "letter of intent" or "conditional".
- OSTI review, Minerals Engineering 249 (Kashyap et al., 2026) Research paper
- NioCorp 10-K for fiscal 2026 (SEC) Official record
- NioCorp 2026 technical report summary, exhibit 96.1 (SEC) Official record
- Northern Miner: Elk Creek valued at $3.4B Independent press
- 10/11 Now: latest study of Elk Creek adds rare earths (Aug 2026) Independent press
- NioCorp: Elk Creek project page Company document
- NioCorp 10-K for fiscal 2020 (SEC, drilling history) Official record
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