(KLZA)--NioCorp Developments conducted a pair of town hall meetings on Friday, December 5,  in Elk Creek, providing updates to area residents on the proposed rate earth minerals mine that is to be constructed in the area. 

Executive Chairman and CEO of NioCorp, Mark Smith said that construction of the mine will start is 2026. Smith said the company if close to finalizing all of the necessary financing and contractors ready to move forward.

The mine will produce Niobium, Scandium and Titanium along with magnetic rare earth elements.
100 percent of the Niobium and Scandium used in the United States is imported with approximately 85% of the needed Titanium imported and nearly 100 percent of the magnetic rare earths. 

Smith said the mine project is needed in the U.S. 

Smith went on to thank the people of Southeast Nebraska for the continued support and patience with the mine project.