Mentioned:
NB -13.07% CRML -11.17%
A publicly traded company in the United States is raising fresh cash to advance one of the largest rare earth deposits in America.
What’s happening:
- NioCorp Developments (NASDAQ: NB) has announced they are raising $20M USD in a new equity financing round
Why it matters:
- NioCorp’s flagship rare earth project the Elk Creek Minerals Project located in Nebraska is the second largest indicated rare earth deposit in the United States of America
Going deeper:
- The Elk Creek Minerals Project contains large deposits of multiple important rare earth elements including neodymium, terbium, dysprosium and praseodymium
- Rare earth elements have been coming into major focus in geopolitics lately, with China just recently restricting the exportation of certain rare earth elements globally and the White House beginning an official investigation into the potential risks of relying on foreign countries for the supply of critical minerals and rare earth elements
The intrigue:
- The pursuit of rare earth elements has also been going beyond just North America, with Critical Metals (NASDAQ: CRML) just recently unveiling their Preliminary Economic Assessment of their Greenland based Tanbreez project which validates that the deposit has multi billion dollar potential
