We posted about the potential rare earth mine in Nebraska a few months ago. There’s some great news to report on how that project is moving forward!
Here are Five Fast Facts on the upcoming rare earth mine in Elk Creek, NE:
- 📱 The Situation - To briefly recap, rare earth minerals are essential for high tech products and modern society, from items you carry around with you every day to big time military equipment. Currently, China mines about 60% of all RE minerals in the world and processes about 87% of it. This is obviously a gigantic risk to the US (and everyone else).
- 🏢 The Player - NioCorp (the company opening the mine in Elk Creek) has begun clearing trees and brush from its property in preparation for breaking ground. It’s like shaving before surgery! 😉
- 3️⃣ The Progress - There are a few financial hurdles to jump yet, but construction of NioCorp’s plant is estimated to begin next year. It should be open in three years. Hm, maybe they should offer incentives for early completion…
- 🏗️💰 The Numbers - This project will provide 1,200 construction jobs, and 450 mining jobs once it’s open. The economic ripples will benefit the surrounding region, as well as the nation itself. Ka-ching!
- 🌲💧The Caution - NioCorp is aware of the environmental damage from rare earth mining that has happened in China, and is determined to do it differently here at home. Good on them!
🔥Bottom line: As we said before, this is great news! It’ll provide loads of good jobs (both short term and long term), and it gives the US a desperately needed boost in a critical industry. Let’s hope they finish the final details and get things up and running as soon as possible!
What do you think about this project?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
