CENTENNIAL, Colo. (Feb. 22, 2021) – NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX:NB) (OTCQX:NIOBF) is pleased to announce that it has formally exercised an option-to-purchase agreement on a key land parcel associated with the Company’s Elk Creek Superalloy Materials Project.
Once the purchase is finalized, NioCorp will own the surface land on which the Project’s mine infrastructure and supporting operations will be located once sufficient project financing is obtained to allow the Project to proceed.
The land purchase will also give NioCorp ownership of the mineral rights to more than 90% of the Project’s Mineral Resource and Mineral Reserve.NioCorp Chief Operations Officer Scott Honan personally delivered this morning NioCorp’s option exercise to the southeast Nebraska landowner.
Further details of the purchase were not made public at the request of the landowner.
NioCorp buys land near Elk Creek
Company secures $10 million in funding
By News Channel Nebraska
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 require more than $1 billion in construction costs. NioCorp is working to raise enough money to build the mine.
https://www.niocorp.com/elk-creek-project/
https://www.niocorp.com/niocorp-executes-option-to-purchase-key-nebraska-land-parcel-for-the-elk-creek-superalloy-materials-project/