08:44 AM EST, 02/10/2025 (MT Newswires) -- Leading Edge Materials ( LEMIF ) said on Monday that it is implementing a rapid development plan for the Norra Karr rare earths project in Sweden.

The plan would advance the project to production "in the shortest possible timeframe" ahead of the completion of the downstream processing facility and selling nepheline syenite.

The company said this strategy would generate cashflow and result in earlier delivery of rare earth element concentrates onto the European market.

Leading Edge noted that is awaiting a decision on the its application for Strategic Project status under the Critical Raw Materials Act, which is expected by the end of March.

"The company is closely watching the EU's decision on Strategic Project status; a designation that would set a clear 27-month permitting timeline and facilitate access to finance," CEO Kurt Budge said. "Given current geopolitical tensions highlighted by the U.S. President's stance on Greenland's resources and Ukraine's rare earth elements, it is difficult to imagine a scenario where Norra Karr is not recognized as critical to Europe's REEs supply."

Leading Edge plans to commence work on a pre-feasibility study in the second quarter and expects a decision on its application for a new exploitation concession 25-year mining lease later in the year.