10:00 AM EST, 12/09/2024 (MT Newswires) -- Leading Edge Materials ( LEMIF ) on Monday said it submitted an application for a 25-year mining lease to the Mining Inspectorate of Sweden for the Norra Karr Heavy Rare Earths Project (HREE).

The application is for the quarrying operation that is proposed at the Norra Karr site, producing a HREE concentrate and the industrial mineral nepheline syenite.

"Looking ahead, 2025 is shaping up to be a transformational year for Norra Karr, with decisions to be taken on Strategic Project status," said Leading Edge Materials ( LEMIF ) Chief Executive Kurt Budge. "The company is also planning for the start of pre-feasibility."

The company will conduct test work in the first quarter of 2025 to further investigate the market potential of nepheline syenite and aegirine.

Shares of the company were flat at $0.10 on Friday on the TSX Venture Exchange.

Price: 0.10, Change: -0.01, Percent Change: -5.00