According to MiningWeekly, Leading Edge Materials, listed in Toronto, confirmed on Tuesday that its Norra Kärr heavy rare earth elements project in Sweden was not included in the EU's first list of strategic projects.
The company plans to reapply in H2 2025 when the EU accepts the next batch of project applications.
Recently, the EU, citing the Critical Raw Materials Act (CRMA), formulated and published the first list of strategic projects, including 47 projects.
Kurt Budge, the company's CEO, acknowledged the regret of not being included but stated that significant progress has been made since August last year.
He emphasized that exclusion would not affect the strategic importance of the Norra Kärr project, given the tightening geopolitical situation and risks in global trade.
He reiterated that Norra Kärr remains Europe's fastest-advancing heavy rare earth project and will play a crucial role in securing critical material supplies for Sweden and Europe.
The adjusted project plan prioritizes environmental management, including the protection of natural resources and clean water, while supporting the EU's green transition.
Budge concluded that, with rising European demand for heavy rare earths, accelerating the development of the Norra Kärr project has become an urgent priority.
