NioCorp to Begin Construction of Mine Portal at its Elk Creek Critical Minerals Project

NioCorp has received board approval for a major construction milestone at its Elk Creek Critical Minerals Project, with the company announcing the commencement of its Mine Portal Project. The initiative carries an estimated capital cost of approximately $44.6 million and is scheduled to begin construction in the first quarter of calendar year 2026.

The Mine Portal Project represents a critical infrastructure development that will provide underground access to the Elk Creek deposit, marking a significant step toward eventual production. Mine portal construction is typically one of the final pre-production phases in underground mining projects, indicating that NioCorp is advancing through the development pipeline toward operational status.

For the critical minerals sector, this development underscores continued investment in domestic North American supply chain capabilities. The timing of the project, with construction beginning in 2026, aligns with broader industry efforts to establish secure sources of strategic minerals outside of traditional supply chains. The substantial capital commitment also demonstrates institutional confidence in the project's viability and the long-term demand outlook for critical minerals.

The advancement of the Elk Creek project will be closely watched by industry stakeholders as an indicator of progress in developing alternative sources of critical minerals. Successful execution of the mine portal construction would position NioCorp to move closer to production readiness and contribute to strategic mineral supply diversification efforts.