07:46 AM EST, 12/16/2024 (MT Newswires) -- Leading Edge Materials ( LEMIF ) on Monday provided an outlook for its operations in Sweden and Romania.

The company has applied to the Swedish authorities for a 25-year mining lease for its Norra Karr Heavy Rare Earth (HREE) Project, said CEO Kurt Budge. The permit is expected in the second quarter of next year. Leading Edge is also planning to start a pre-feasibility study in the second quarter.

In a letter to shareholders, Budge also noted that, as the only built and permitted natural flake graphite mine in Europe, its other operation, Woxna Graphite, is positioned to play a significant role in the production of natural graphites. The company is reviewing options for Woxna, which include the possibility of contracting with a long-term partner willing to pay for secure natural graphite produced to the highest ESG and sustainability standards.

In Romania, Leading Edge's objective at Bihor Sud, is to define a large-scale, mineable mineral resource. "We are encouraged by the findings to date, which highlight the strong potential for discovering a significant polymetallic deposit," Budge added.