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Proposed Nebraska mine raises up to $366M of $1.1B it needs

KION

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — The mining company that wants to extract an assortment of rare elements from under the ground in southeast Nebraska has announced a deal that will give it up to $285 million to help cover the roughly $1.1 billion cost of building the mine. In addition to the acquisition of a special purchase acquisition company called GX Acquisition Corp. II that NioCorp announced Monday, the Centennial, Colorado-based company also signed letters of intent to borrow up to $81 million more from Yorkville Advisors Global. So NioCorp could get as much as $366 million to finance the project. NioCorp CEO Mark Smith said “these transactions have the potential to put NioCorp on the fast track to obtain the required project financing.”

Article Topic Follows: AP National Business

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