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

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.”