Leading Edge Materials Corp. has received confirmation of a 25-year extension on the Woxna exploitation licence. The exploitation licence for the Woxna graphite mine was up for renewal in early 2017, and an application for a 25-year extension was submitted to the mining inspectorate of Sweden earlier this year.
Blair Way, president and chief executive officer, stated: “We are very pleased to have received this further 25 years on our exploitation licence. This is the first milestone in our repermitting process for an expanded operation. This exploitation licence security enables us to continue our graphite strategy to expand into the supply of high-purity graphite for the burgeoning electric vehicle and energy storage markets.
An exploitation concession gives the holder the right to exploit an extractable mineral deposit for a period of 25 years, which may be extended a further 25 years. Leading Edge Materials’ exploitation and environmental permits for the Woxna graphite mine and processing facility were issued by the mining inspectorate in 1992. The application for a 25-year extension was submitted earlier this year, and the extension was granted in early November and took full legal effect at the end of December.
The qualified person as defined in National Instrument 43-101 for the Woxna project, Mr. Way, president, chief executive officer and a director of the company, and a fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
source: investingnews.com