Leading Edge Materials Raises C$4.3M for Rare Earth Project in Sweden

Published: Sep 28, 2026 14:19 (GMT+8)

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【SMM Rare Earth Flash】 Canadian critical minerals developer Leading Edge Materials has completed the second tranche of its private placement, bringing total funds raised to **C$4.3 million** (approx. US$3.1 million) toward a C$6 million target, with the remainder expected by September 25. Proceeds will fund pre-feasibility studies and environmental permitting for the Norra Karr heavy rare earth project in southern Sweden, as well as studies on a potential restart of the Woxna graphite mine and 12 months of working capital.

Norra Karr was granted a 25-year mining concession on June 28. The eudialyte-hosted deposit has an Inferred Resource of 110 million tonnes at 0.5% TREO, with 52% HREO. According to a 2021 PEA, the project could operate for 26 years, producing an average of 5,340 t/y mixed rare earth oxides, including 248 t/y Dy₂O₃ and 36 t/y Tb₂O₃. The company targets production within approximately four years.

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