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NioCorp to Begin Construction of Mine Portal at Its Elk Creek Critical Minerals Project
Portal Will Establish the Mine Entrances and is a Critical First Step in Enabling Underground Mine Access and Advancing the ProjectPortal Project Expected to
About this update from Niocorp Developments Ltd.
[{"type":"text","content":"Portal Will Establish the Mine Entrances and is a Critical First Step in Enabling Underground Mine Access and Advancing the ProjectPortal Project Expected to Commence in Q1 of Calendar Year 2026 CENTENNIAL, CO / ACCESS Newswire / December 22, 2025 / NioCorp Developments Ltd. (\"NioCorp\" or the \"Company\") (Nasdaq:NB), a leading U.S. critical minerals developer, today announced that its Board of Directors (the \"Board\") has approved the Company's Mine Portal Project (the \"Portal Project\"), a major initiative to advance the Elk Creek Critical Minerals Project (the \"Elk Creek Project\").The Portal Project will establish the main entrances to the Elk Creek Project underground mine and will serve as the primary access point for personnel, equipment, and materials for the Company's planned underground mining operations. The Board-approved scope also includes excavating to bedrock, drilling and blasting to establish the twin mine ramps, on-site access road construction, as well as on-site supporting infrastructure. Work is expected to begin in Q1 of calendar year 2026 and the current estimated capital cost for the project is approximately $44.6 million.The portal will provide access for the Company's planned implementation of the Railveyor™ system, which NioCorp announced in 2024 as the preferred bulk material handling solution for the Elk Creek Project. (See this announcement). Utilizing the Railveyor™ system replaces the previously planned twin-shaft design and, according to the scoping study, is expected to reduce initial capital costs through simplified underground infrastructure and a shorter pre-development schedule.The Railveyor™ system will run on electricity, as will all of NioCorp's underground mining equipment, offering potential environmental, safety, and operational benefits when compared to conventional diesel-powered underground mining systems.\"Approval of the Portal Project is a significant milestone for NioCorp,\" said Mark A. Smith, CEO and Chairman of NioCorp. \"This initiative allows us to advance one of the critical path schedule items for the project as we continue working toward securing the remaining financing needed for the Elk Creek Project. We greatly appreciate the strong support shown by Nebraskans and our project partners as we continue advancing.\"\"Given the size of this excavation work, the Porta...