The Mining Inspectorate of Sweden (Bergsstaten) has extended the Norra Karr nr 1 exploration licence for another five years, to August 31, 2024, TSX-V-listed Leading Edge Materials announced on Friday.
Under the Swedish Minerals Act an exploration licence 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 says it had decided it prudent to apply for an extension.
Norra Karr is one of few National Instrument 43-101 rare-earth element (REE) resources on mainland Europe and has been identified as potentially significant for European REE security. It has received support in the form of European Commission funding in the past for process research.
“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,” says CEO Filip Kozlowski.