08:51 AM EST, 02/18/2025 (MT Newswires) -- Leading Edge Materials ( LEMIF ) said over the holiday weekend that it remains focused on restarting the Woxna graphite mine in Sweden as the company seeks to meet Europe's natural graphite needs.

In the second quarter, the company will update a 2022 in-house study that evaluated processing plant upgrades to produce high-quality flake graphite concentrate. Leading Edge said an updated business plan could support discussions around project financing, customer pre-payments, and potential Swedish or European public funding.

The company also aims to collaborate with off-takers to add value through further processing.

"With rising geopolitical tensions and the increasing weaponization of trade through tariffs and export restrictions, the urgency to establish short, regional supply chains has never been greater," CEO Kurt Budge said. "Woxna has been maintained in production-ready status for years, and now, the company is growing in confidence that its strategic investment in care and maintenance could be about to pay off."

Leading Edge's share price rose 5.3% on Friday to $0.10 on the TSXV.