Leading Edge Materials Corp. has submitted an application for Strategic Project designation for its Norra Kärr Heavy Rare Earths (HREE) Project. The European Commission is expected to announce the first list of Strategic Projects in December 2024. CEO Kurt Budge emphasizes that securing Strategic Project status would be pivotal for advancing HREE production in Europe, addressing the EU’s need for a secure and sustainable supply chain for permanent magnets.
The Norra Kärr deposit, identified by the Geological Survey of Sweden in the early 1900s, has undergone significant development over the past 15 years. Key milestones include the award of a 25-year Exploitation Concession in 2013 and the completion of a Prefeasibility Study (PFS) in 2015. A 2021 redesign of the project enhanced resource utilization, efficiency, and environmental and social governance factors, with plans to submit a new Exploitation Concession application in Q4 2024.
The Norra Kärr project is strategically important for the EU, as it could mark the beginning of primary HREE production in the region and contribute to reducing reliance on China for rare earth elements. Sweden’s long-standing mining heritage positions it as a key player in the EU’s efforts to enhance self-sufficiency and develop a sustainable rare earth value chain.