NioCorp Elk Creek project secures fresh funding for critical minerals push

NioCorp

The NioCorp Elk Creek project is moving closer to construction after the company outlined plans to raise an additional $60mn. The NioCorp Elk Creek project, located in Nebraska, targets production of scandium, niobium, titanium and other critical minerals needed for advanced manufacturing. This latest funding move comes just a week after NioCorp closed a $50mn share offering, underscoring growing investor confidence in the NioCorp Elk Creek project and its strategic role in North America’s supply chain.

Equity raise underpins NioCorp Elk Creek project construction

NioCorp will issue about 9.8mn new shares at $6.15 per share through a placement arranged by US investment bank Maxim Group. The proceeds will help launch construction of the NioCorp Elk Creek project and support its transition toward commercial-scale production. In addition, the funding will cover general working capital needs as the company advances engineering, procurement and early site works. By leaning on equity rather than pure debt, NioCorp reduces balance sheet pressure at an early stage of the NioCorp Elk Creek project, which can be important in volatile critical minerals markets.

Strategic backing highlights importance of critical minerals

Beyond equity markets, the NioCorp Elk Creek project has attracted support from government-backed financiers. The project has secured up to $10mn in funding from the US Department of Defense, reflecting the strategic importance of scandium, niobium and titanium for aerospace, defense and high-performance alloys. It has also lined up $200mn from UK Export Finance, signalling international interest in diversifying critical mineral supply chains. As a result, the NioCorp Elk Creek project is emerging as a potential pillar in efforts to reduce dependence on overseas sources for high-spec material used in lightweight alloys, clean energy technologies and advanced infrastructure.

The Metalnomist Commentary

The funding pipeline around Elk Creek shows how quickly capital can mobilise when critical minerals, defense needs and supply chain security align. The next test will be NioCorp’s ability to execute on time and on budget in a sector where cost inflation and project delays remain common. If delivered, Elk Creek could become a benchmark for integrated scandium, niobium and titanium supply in North America.