Leading Edge Materials supports the European call to action on
Vancouver, October 1st, 2021 – Leading Edge Materials Corp. (“Advanced materials“or the”Society”) (TSX Venture Exchange: LEM) (Nasdaq Premier North: LEMSE) (OTCQB: LEMIF) (ENG: 7FL) welcomes the publication of the report “Rare earth magnets and motors: a European call to action“ (the “Report”) by the European Raw Materials Alliance (“ERMA”).
The report is the result of an extensive stakeholder consultation process organized by ERMA. In 2020, the European Commission launched ERMA under the leadership of Commissioner Thierry Breton and Vice-President Maroš Šefčovič with EIT RawMaterials responsible for managing the work of the alliance. ERMA’s first objective has become to support the growth of an alternative European and global rare earth supply chain in order to increase the resilience of EU industrial ecosystems. ERMA operates along two lines of work; identifying solutions to regulatory and structural bottlenecks that hamper the growth of the sector in Europe, and setting up an investment channel to support the development of a safer and more resilient value chain for rare earths with permanent magnet in Europe.
To achieve ERMA’s objectives, the report identifies 6 strategic action areas as well as a set of 12 specific actions. More specifically, these key points from the report could benefit the development of the Company’s Norra Karr Heavy Rare Earth project:
- Identification of the main mining sources of rare earth raw materials suitable for supply in an EU value chain
- Exploration of regulatory measures to encourage mining using the best available practices that have the lowest environmental impacts. The measures should target inconsistencies and obstacles in the EU regulatory framework in order to reduce institutional risks for investments, noting that member states should be encouraged to determine the adequacy of their commodity policies.
- Facilitating access to finance for rare earth projects via a commodity investment platform. The report proposes the creation of a bridging fund for raw materials targeting investments of 150 to 200 million euros per year to ensure bankability and reduction of project risks, and an investment vehicle for raw materials under the form of a state-backed investment and procurement organization to act as a primary buyer and demand pooler for commodities in European countries.
- Promotion of ethical and transparent sourcing in the value chain through regulatory enforcement.
- Creation of a level playing field for European rare earth producers in order to compete with their Chinese competitors through the introduction of fiscal incentives, tax shields and carbon border adjustment mechanisms.
- Raise awareness of all stakeholders and society in general on the importance of rare earths and their sustainable production.
Filip Kozlowski, CEO of Leading Edge Materials said “It was a pleasure to participate in the betERMA incumbent consultation process under the visionary leadership of EIT RawMaterials. Norra Karr is one of the best opportunities for Europe to source magnetic rare earths in a safe and sustainable manner. See the report proposals and how they can directly support the development of Norra Karr makes me extremely optimistic about the opportunity work together for a success building a sustainable and resilient Europe industrial ecosystem of rare earth magnets and motors. “
On behalf of the Board of Directors,
Advanced Materials Corp.
Filip Kozlowski, CEO
For more information, please contact the Company at:
About advanced materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw materials projects located in the European Union. Critical raw materials are determined as such by the European Union on the basis of their economic importance and supply risk. They are directly linked to high growth technologies such as batteries for electromobility and energy storage and permanent magnets for electric motors and wind power which underpin the clean energy transition towards climate neutrality. The project portfolio includes the 100% owned Woxna Graphite mine (Sweden), the Norra Karr HREE project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).
The information was submitted for publication through the agency of the contact listed above on October 1, 2021 at 6:00 a.m. Vancouver time.
Leading Edge Materials is listed on the TSX Venture Exchange under the symbol “LEM”, on the OTCQB under the symbol “LEMIF” and on Nasdaq First North Stockholm under the symbol “LEMSE”. Mangold Fondkommission AB is the Company’s Certified Advisor on Nasdaq First North and can be contacted by email [email protected] or by phone on +46 (0) 8 5030 1550.
Notice to readers
may constitute forward-looking statements or information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). All statements, other than statements of historical fact, relating to activities, events or developments that the Company believes, expects or anticipates will occur or may occur in the future are forward-looking statements. . Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend”. “And statements that an event or result” may “,” will “,” may “,” should “,” could “or” could “occur or be achieved and other similar expressions. Forward-looking statements are based on the opinions and expectations of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of factors, risks and uncertainties which may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, including, among others, that the Company does not has not yet generated a profit. of its activities; there can be no assurance that estimates of the quantities or qualities of minerals disclosed in the Company’s public records will be economically recoverable; uncertainties about the availability and costs of necessary funding in the future; compete with other companies in the mining industry; the success of the Company depends in large part on the performance of its directors and officers and on the ability of the Company to attract and train key personnel; changes in global metals and equity markets beyond the control of the Company; the possibility of write-downs and write-downs; risks associated with uninsurable risks arising during exploration; development and production; risks associated with changes in the mining regulatory regime governing the Company; risks associated with tenure of the Norra Karr property; the risks associated with the various environmental regulations to which the Company is subject; rehabilitation and restitution costs; the Woxna project has never defined a mineral reserve. The Woxna project has never defined a mineral reserve. On June 9, 2021, Leading Edge announced the results of an independent preliminary economic assessment for the development of Woxna (the “2021 Woxna PEA”), full details of which are included in a technical report entitled “NI 43-101 Technical Report – Woxna Graphite “prepared for Woxna Graphite AB with an effective date of June 9, 2021 and an issue date of July 23, 2021, available on the Leading Edge website www.leadingedgematerials.com and under its SEDAR profile www.sedar.ca The Woxna 2021 PEA is preliminary in nature, it includes Inferred Mineral Resources that are considered geologically too speculative for economic considerations to be applied to them that would allow them to be classified as Mineral Reserves, and there is no certainty that the preliminary economic assessment will be carried out Mineral Resources that are not Mineral Reserves have not demonstrated economic viability. July 2021, Leading Edge announced the results of an independent preliminary economic assessment for the development of Norra Karr (the “2021 Norra Karr PEA”), full details of which are included in a technical report titled “NORRA KARR PRELIMINARY ECONOMIC ASSESSMENT RARE EARTH DEPOSIT AND POTENTIAL BY-PRODUCTS, SWEDEN “prepared for Leading Edge Materials Corp. with the effective date August 18, 2021 and the issue date August 19, 2021, available on the Leading Edge website www.leadingedgematerials.com and under its SEDAR profile www.sedar.ca The EEP of Norra Karr 2021 is preliminary in nature, it includes Inferred Mineral Resources that are considered geologically too speculative for economic considerations to be applied to them that would allow them to be classified as Mineral Reserves, and there is no certainty that the valuation preliminary economic will be achieved. Mineral resources that are not mineral reserves have not demonstrated their economic viability. Although the Company has attempted to identify material factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that could cause results to be inaccurate. not those anticipated, estimated or anticipated. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking statements. These forward-looking statements have been provided for the purpose of helping investors understand the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Therefore, readers should not place undue reliance on forward-looking statements. Forward-looking statements are made as of the date hereof, and the Company does not undertake to update these forward-looking statements, except in accordance with applicable securities laws.
20211001 LEM welcomes the European call for action on rare earths