News

ELK CREEK, NE.—Today, Export-Import Bank of the United States (EXIM) Chairman John Jovanovic joined Secretary of Energy Chris Wright, Governor Jim Pillen, Senators Deb Fischer and Pete Ricketts, Representative Adrian Smith (NE-03), and senior NioCorp leadership for a tour of its Elk Creek mine site. The mine marks a crucial development in securing American supply chains and U.S. energy dominance. When successfully developed, the Elk Creek mine will contribute to domestic production of niobium, scandium, and other rare earth elements used in everyday devices like magnets and fuel cells. During the visit, Jovanovic signed a letter of support alongside Mark Smith, Executive Chairman, President, and CEO of NioCorp Developments, to recognize the significance and the Bank’s continued support of the project.

“The Elk Creek Minerals Project is exactly the type of opportunity EXIM was always designed to support. By advancing U.S. control over the critical minerals essential to aircraft, automobiles, advanced manufacturing, and our broad industrial base, this project means more good jobs in Nebraska, more opportunities for American workers and a stronger, more secure industrial future for the United States,” said EXIM Chairman John Jovanovic.

“This is not just the economics of the United States. This is our national security that rests on what’s underground right here. We can’t just talk about them and write a few papers and then hand it off to the next administration,” Secretary of Energy Chris Wright said. “We actually have to act. We have to do something to change the situation we’re in.”

"We are extremely gratified with the tremendous support we have received from Chairman Jovanovic and the entire team at EXIM as we continue to pursue a financing partnership with EXIM. EXIM’s professionalism and attention to detail are second-to-none, and we look forward to the day when we can all celebrate the EXIM Board of Directors’ authorization of our financing package,” said Mark Smith, Executive Chairman, President, and CEO of NioCorp.

“It’s incredible to think that here in the Heartland, we will play a key role in supplying minerals that the U.S. has long relied on foreign adversaries like China, to provide. We need these materials to support new technologies, our nation’s defense initiatives, medical and aerospace industries. President Trump has made this a top priority and the project in Elk Creek will fill help the gap in our nation's supply chain while providing careers to hundreds of people and supporting our state's economic diversity,” said Governor Jim Pillen.

“I've long pushed to bring critical mineral production and processing back to the United States. I could not be prouder to see Nebraska leading the way in securing America’s energy dominance. I appreciate the administration’s focus on strengthening our domestic critical mineral supply chain, and I thank Chairman Jovanovic for supporting NioCorp’s plant in Elk Creek,” said Senator Deb Fischer (R-NE).

“Nebraskans are playing a critical role in strengthening our national security. Advanced minerals needed for key sectors like defense and energy will be made in Elk Creek. The partnership between this community, NioCorp, and EXIM is a model for how we can continue to bolster domestic supply chains,” said Senator Pete Ricketts (R-NE).

"The Export-Import Bank of the United States’ letter of support marks an important step towards making the Elk Creek Critical Minerals Project a reality. I firmly believe our region is uniquely positioned to support a project of this significance and strategic importance. I look forward to seeing this project come to fruition—not only delivering a much-needed supply of critical minerals but also creating new opportunities for families and businesses in Nebraska’s Third District for years to come," said Representative Adrian Smith (NE-03).

NioCorp plans to produce niobium, scandium, titanium, and several magnetic rare earth elements at the Elk Creek Project. These materials are used across automotive, aerospace, energy, and advanced manufacturing applications. The United States is heavily import-dependent for these materials, including 100% net import reliance for several of the minerals NioCorp plans to produce.

J.P. Morgan’s Export & Agency Finance team is serving as the sole EXIM Coordinator for the transaction to support the American critical mineral sector which is key to national security and the economy.

About EXIM:

As the United States government’s official export credit agency, the Export-Import Bank of the United States (EXIM) supports American jobs by facilitating U.S. exports. As an independent agency, EXIM plays a critical role in supporting economic growth, securing critical supply chains, and ensuring American businesses are given a fighting chance. To achieve this mission, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. Learn more at www.exim.gov.