NioCorp Launches Elk Creek Portal and Secures $30M Traxys Offtake Term Sheet
NioCorp broke ground on its Elk Creek mine portal on March 4, 2026, for North America’s sole niobium-scandium-titanium deposit at Feasibility Study stage. On April 9, 2026, it signed a non-binding offtake term sheet with Traxys covering Elk Creek’s first-decade product slate and potential $30m strategic investment.
1. Elk Creek Portal Excavation Launch
On March 4, 2026, NioCorp commenced excavation of the Elk Creek mine portal in southeast Nebraska, marking the first physical development step for North America’s only niobium-scandium-titanium deposit at the Feasibility Study stage. This milestone advances the project toward construction permitting and eventual production of critical minerals.
2. Traxys Offtake and Investment Term Sheet
On April 9, 2026, NioCorp signed a non-binding term sheet with Traxys North America to market and offtake the entire product slate from Elk Creek’s first ten years of operations. The agreement includes a potential $30 million strategic investment from Traxys, providing both commercial partnership and growth capital.
3. Pentagon-Backed Scandium Technology Agreement
In October 2025, NioCorp secured a Pentagon-funded scandium technology collaboration with Lockheed Martin, positioning Elk Creek’s scandium output for defense and aerospace applications. This partnership underlines the project’s strategic importance to U.S. critical-minerals supply chains.
4. Diverse Critical Minerals Portfolio
Elk Creek’s product list includes niobium, scandium, titanium and several magnetic rare earths such as neodymium, praseodymium, terbium and dysprosium. All of these materials feature on the U.S. government’s critical-minerals list, highlighting the project’s role in domestic supply security.