Norra Karr is one of few NI43-101 REE resources on mainland Europe and has been identified as potentially significant for European REE security
Leading Edge Materials secured five year extension on Norra Karr Exploration License. (Credit: Khusen Rustamov from Pixabay)
Leading Edge Materials as received confirmation from the Mining Inspectorate of Sweden (“Bergsstaten”) that the Norra Karr nr 1 exploration license has been extended for 5 years to August 31, 2024.
Under the Swedish Minerals Act an exploration license is not required to be extended since it remains valid for the duration of an ongoing mining lease application with Bergsstaten, which is the case for Norra Karr. However, the Company will always ensure that it protects its security over the asset and decided it prudent to apply for an extension. The Bergsstaten’s decision can be appealed and the Company will disclose any development with respect to that if and when required.
Filip Kozlowski, CEO states “We are pleased to receive this confirmation as it demonstrates our commitment to do our utmost in protecting the Company’s and our shareholder’s interest in the unique Norra Karr Heavy REE project. As economies transition out of the ongoing crisis there are increasing calls for a #GreenRecovery and increased resilience for European industrial supply chains. Norra Karr could contribute to both the former and latter.”
Norra Karr is one of few NI43-101 REE resources on mainland Europe and has been identified as potentially significant for European REE security (ERECON study), and has received support by European Commission funding in the past for process research (Horizon2020 funded EURARE study). As announced June 5, 2019, the Company is doing preparatory work for a Natura2000 permit application in support of the previously submitted mining lease application.
Source: Company Press Release