(KLZA)-- NioCorp Developments hosted a number of state and federal officials Wednesday at the company's Elk Creek Critical Minerals Project near the community of Elk Creek Wednesday.

The officials made remarks about the project and it's importance to the future of the U.S., the state of Nebraska Johnson County in southeast Nebraska.

NioCorp CEO and Chairman Mark Smith talked about the critical minerals located underground in Johnson County.

Plans are to produce niobium, scandium, titanium and several magnetic rare earth elements at the mine.

Smith outlined the importance of the project to the country and the changes it will lead to for the area. All of the products will be processed in the United States and not sent off to a foreign country to be processed.

The mining operation will create approximately 1,200 construction jobs while the mine is constructed and will eventually provide about 500 high skilled permanent jobs over the 40 year life of the mine.

The mine will bring more opportunities to Johnson County and create billions of dollars in investments around the state.

U.S. Senator Pete Ricketts called the project a win-win-win. Ricketts said we are now living in a dangerous world with Communist China wanting to replace the U-S as the world's super power. Ricketts says the U-S cannot be reliant on our chief adversary for things that are critical to our defense.

U.S. Secretary of Energy Chris Wright says development of the Elk Creek Mine Project is vital to America's future due to all of the uses for these rare earth elements.

He said China has changed the regime of providing the U-S with such critical minerals. Wright said anything with a button requires magnets from these rare earth elements and that aircraft, air force equipment and factories all require these inputs.

Also in attendance was Nebraska Senior U-S Senator Deb Fischer, Governor Jim Pillen, Third District Congressman Adrian Smith and 1st District State Senator Bob Hallstrom.