NioCorp Elk Creek critical minerals project secures $150mn financing boost

NioCorp

The NioCorp Elk Creek critical minerals project has secured a fresh $150.2mn equity raise to advance construction in Nebraska. The NioCorp Elk Creek critical minerals project will use the proceeds to move scandium, niobium and titanium output toward commercial scale. As a result, the NioCorp Elk Creek critical minerals project is emerging as a flagship US asset in the strategic metals space.

Equity raise strengthens NioCorp Elk Creek critical minerals project funding base

NioCorp will issue nearly 16.1mn shares at $9.34 per share to fund the development push. The new capital will support project construction, ramp-up activities and general working capital needs. Meanwhile, this latest round follows two earlier direct offerings of $60mn and $50mn completed in September.

Together, the three offerings will bring NioCorp’s total new funding to more than $260mn in roughly one month. This rapid sequence of raises signals strong investor confidence in the company’s Sc-Nb-Ti strategy. It also provides a larger equity cushion as NioCorp negotiates remaining project finance and potential strategic partnerships.

Elk Creek advances toward construction and US supply-chain role

NioCorp has now purchased the last acreage required to construct the Elk Creek site in Nebraska. Therefore, the company can proceed to early works and site preparation once all financing is secured. The project targets commercial production of scandium, niobium and titanium, metals that support defence, aerospace and advanced manufacturing.

However, NioCorp must still close additional funding to build full-scale processing and mining infrastructure. Capital intensity, permitting timelines and market volatility for critical minerals all remain key execution risks. Even so, the secured $260mn base gives the project a clearer path from feasibility studies to ground-breaking.

The Metalnomist Commentary

NioCorp’s latest raise reinforces Elk Creek’s status as a cornerstone US critical minerals project rather than a niche play. If the company can lock in the remaining debt and offtake support, Elk Creek could become a rare domestic source of scandium and niobium at scale. For policymakers focused on resilience, the deal underlines how targeted equity markets can accelerate strategic metals development.