(KLZA)-- NioCorp Developments, the company planning to start a large mining project near Elk Creek is reporting a significant advancement in the process to recover rare earth materials.

L3 Process Development, located in Quebec, Canada, has made significant advancement in it's ongoing process optimization

and rare earth recovery test work conducted for the Elk Creek Superalloy Materials Project.

If proven, the advancement may result in major improvements including possible elimination of entire steps in the Projects current processing flowsheet.

The improvements potentially could help with the recovery and purification of rare earth elements, in addition to the Projects planned production of niobium, scandium and titanium.

The process could potentially increase revenue derived from those projects, could lower the costs in the projects pyrometallurgical plant and produce a higher purity titanium product.