Congressman Adrian Smith Launches Elk Creek Critical Minerals Project Excavation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 04 2026
0mins
Should l Buy NB?
Congressman Adrian Smith officially launched excavation last week of the Elk Creek Critical Minerals Project mine portal during a tour and briefing on the project with county and local Nebraska officials. Congressman Smith is the senior member of the powerful U.S. House Ways and Means Committee, which has jurisdiction over federal tax and trade policy, has been a longstanding supporter of efforts aimed at strengthening domestic critical mineral supply chains and has introduced legislation to provide tax benefits to U.S. producers of rare earth elements and scandium, which NioCorp Developments Ltd. intends to produce at the project. Congressman Smith and local officials were briefed on the project's pre-construction work last week by senior NioCorp management. During a tour, Congressman Smith operated a 117-ton excavator to start the first official excavation of the mine's portal, which will establish the primary access point to the planned underground mine. Nebraska-based Gana Trucking and Excavating is performing the mine portal construction. "I appreciated the opportunity to visit the Elk Creek Project," said Congressman Smith. "Projected to create over 400 jobs and generate more than $600 million in state and local tax revenue, this project will provide long-term economic opportunity while cementing Nebraska's role in securing a reliable domestic supply of critical minerals. In Congress, I will continue to support efforts like this to ensure that Nebraska remains a leader."
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Analyst Views on NB
Wall Street analysts forecast NB stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 5.010
Low
9.50
Averages
12.25
High
15.00
Current: 5.010
Low
9.50
Averages
12.25
High
15.00
About NB
NioCorp Developments Ltd. is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company is also evaluating the potential to produce several rare earths from the Elk Creek Project. The Elk Creek Project is a shovel-ready pure-play critical minerals project with the highest-grade Niobium resource in North America and an indicated rare earth resource in the United States. The Elk Creek Project is located approximately 105 kilometers (kms) southeast of Lincoln, Nebraska (the state capital); 129 kms south of Omaha, Nebraska, and three miles west of Elk Creek, Nebraska and six miles south of Tecumseh, Nebraska.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Supply Chain Autonomy: By partnering with the Saskatchewan Research Council, REalloys secures upstream supply of heavy rare earths, creating a complete supply chain from separation to metallization, reducing reliance on China and strengthening U.S. competitiveness in the defense industry.
- Strategic Investment: REalloys plans to process approximately 3,000 tonnes of NdPr metal and 245 tonnes of heavy rare earth metals over the next five years, further solidifying its position in the North American rare earth market to meet defense and advanced industrial system demands.
- Policy Support: The U.S. Department of Defense's updated procurement regulations prohibit the use of Chinese-origin rare earth materials, reflecting the government's commitment to domestic metallization capabilities, which is expected to attract more investment to support this critical sector.
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- Historic Stockpile Evaluation: Americore is evaluating options to monetize approximately 400,000 ounces of silver in oxide material and 365,000 ounces in sulfide material from historic stockpiles, which could strengthen the company's financial position and further drive project development.
See More
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See More
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