Mining firm buys key parcel of land in southeast Nebraska

Nebraska News

Soil samples containing niobium extracted from the depths at a proposed mine site near Elk Creek, Neb., are seen Wednesday, June 11, 2014. The Canadian NioCorp Developments company resumed drilling samples from beneath the ground near Elk Creek to gather the last samples that will be needed to determine whether a niobium mine is financially feasible. There are two drilling rigs working on the site. (AP Photo/Nati Harnik)

ELK CREEK, Neb. (AP) — The Colorado company working to build a mine in southeast Nebraska to extract a rare heat-resistant element says it has purchased a key piece of land the mine would be built on.

NioCorp Developments said Monday that it had purchased the land near Elk Creek where the proposed niobium mine would be built.

The company didn’t release the price of the land, but the purchase came a week after NioCorp secured $10 million in funding from an investment fund.

The proposed mine is expected to create over 400 jobs and requires more than $1 billion in construction costs.

NioCorp is working to raise enough money to build the mine.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Local News

More Local News