NioCorp Developments Ltd (NB) Breaks Ground on the Elk Creek Project

NioCorp Developments Ltd (NASDAQ:NB) is among the rare earth stocks to buy with high upside. On March 4, NioCorp Developments Ltd (NASDAQ:NB) announced groundbreaking at its Elk Creek Critical Minerals Project in southeast Nebraska, a site expected to produce niobium, scandium, titanium, and rare earth elements. The event was attended by US representative Adrian Smith, who operated “a 117-ton excavator to start the first official excavation of the mine’s portal,” the company said in a press release.

NioCorp Developments is initially developing the main entrance portal to the project’s underground mine. The portal will function as the main access point for equipment and personnel. Moreover, it will be used to bring ore from the underground mine to the surface processing plant.

The portal construction is a nearly $44.6 million effort that advances the Nebraska project from planning to development phase. The company said last month that it had been able to raise $500 million in capital investments between 2025 and year-to-date. It said this enables it to more intensively advance the Nebraska project.

In its 2025 year review report, NioCorp Developments said the progress it made in 2025 strengthened the foundation of its Elk Creek Project. It said 2026 could be a watershed year for its efforts to move the project to construction and bring it closer to commercial operation.

NioCorp Developments Ltd (NASDAQ:NB) is an American company focused on producing critical minerals, including rare earth elements. Through its Elk Creek Project in southeast Nebraska, the company aims to produce rare-earths from ore as well as from recycling post-consumer products. Producing permanent rare-earth magnets is a key part of the company’s business plan.

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