NioCorp

https://www.exim.gov/news/chairman-jovanovic-signs-letter-support-for-niocorps-elk-creek-mine-tours-innovative-project

Issue

NioCorp is building the Elk Creek Critical Minerals Project in southeast Nebraska. Elk Creek would be the first U.S. source of niobium and scandium, and it would also produce several heavy rare earths. The project's central financing need was a large debt package from the Export-Import Bank of the United States (EXIM). NioCorp had been in EXIM's review process since 2023. To keep the loan moving and growing with the project, it needed the Administration and Congress to see Elk Creek as a national security priority.

Process

Navigators ran repeated Washington fly-ins for CEO Mark Smith and his team. These combined direct EXIM engagement with a broader campaign aimed at the Administration, Congress, and think tanks.

We coordinated NioCorp's EXIM meetings, including a two-hour session at EXIM headquarters on the term sheet, and scheduled the rest of each fly-in around them. We secured a meeting with the White House National Energy Dominance Council. We also set up meetings with the offices of Rep. Adrian Smith, Sen. Jon Husted, and Sen. Jim Risch, and worked with Rep. Smith's office to get critical minerals tax legislation introduced.

Beyond government, we built support for Elk Creek at Hudson, FDD, the Bipartisan Policy Center, the Atlantic Council, and PRISM, and drafted and placed op-eds to raise Mark Smith's profile.

Results

• On October 14, 2026, EXIM Chairman Jovanovic signed a Letter of Support at Elk Creek reaffirming EXIM’s target to provide debt financing for about 65% of the project’s estimated $1.85 billion in upfront capital costs. That is roughly $1.2 billion, up from the up to $800 million in EXIM’s original 2023 letter of interest.
• The signing drew a visit by Energy Secretary Chris Wright, Nebraska Governor Jim Pillen, Sens. Deb Fischer and Pete Ricketts, and Rep. Adrian Smith.
• Rep. Adrian Smith introduced critical minerals tax legislation that NioCorp championed, establishing a legislative vehicle for future tax incentives for domestic critical minerals producers.