NioCorp is a pre-revenue mining development company with a single asset: the Elk Creek Project, a carbonatite deposit near Elk Creek, Nebraska. The project is designed to produce three critical minerals — niobium, scandium, and titanium — with a potential future expansion into rare earth elements (REEs). Niobium is the primary product, used to produce high-strength steel for automotive, construction, and infrastructure applications, as well as superalloys for aerospace. Scandium would be combined with aluminum to make high-performance alloys. Titanium is used in aerospace, defense, and medical applications. NioCorp has not generated any revenue and funds itself through equity issuances while pursuing project financing. The company raised roughly $18.7M in an April 2025 equity offering and roughly $41.2M in a July 2025 offering. NioCorp is also pursuing a loan through the U.S. Export-Import Bank and has a DoD agreement providing up to $10M in milestone-based reimbursements for feasibility and drilling work. Once operational, revenue would come from selling ferroniobium, scandium trioxide, and titanium dioxide under negotiated offtake agreements. NioCorp's core argument is that Elk Creek would provide a domestic U.S. source of critical minerals that the U.S. currently imports, which has attracted government interest. The path to production depends entirely on securing a full project financing package to fund construction of the mine and processing plant.