NioCorp Developments (NB) Raises $60.7M to Develop Elk Creek Critical Mineral Project

NioCorp Developments Ltd. (NASDAQ:NB) is one of the best rare earth stocks to buy now. On July 22, the company announced plans to ramp up pre-construction activities at its Elk Creek Critical Mineral project.

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The push comes as the company has raised $60.7 million over the past three months. With the new capital injection, NioCorp is in a solid financial position to accelerate field activities and other pre-construction work streams at the Elk Creek Project. Part of the funds will support the acquisition of additional land, while also financing geomechanical and hydrogeological fieldwork.

NioCorp Development is ramping up efforts at the Elk Creek project, which is expected to produce critical minerals, including niobium, Scandium, and Titanium. The company is also evaluating the project to produce rare earth elements on-site.

NioCorp Developments Ltd (NASDAQ:NB) is a critical minerals company that produces niobium, scandium, and titanium at its Elk Creek Critical Minerals Project in Nebraska. While not currently in production, they are also evaluating the potential to produce rare earth elements (REEs) like neodymium, praseodymium, dysprosium, and terbium from the same project.

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Disclosure: None. This article is originally published at Insider Monkey.