Leading Edge Materials Welcomes Governmental Review of Permitting Processes and Regulations

Rhea-AI Summary

Leading Edge Materials Corp. (LEMIF) has welcomed a recent announcement from the Swedish Government regarding a governmental review aimed at improving the permitting processes for critical raw materials. This review, led by a special reviewer, aims to address the increasing demand due to the green transition, particularly for industries like electric vehicles and wind power. The review is expected to complete by October 2022 and will explore a balance between local environmental impact and societal benefits, while ensuring investment attractiveness in Sweden.

Positive

• Governmental review focuses on critical raw materials, essential for the green transition.
• Potential for regulatory improvements to enhance mining and minerals industry in Sweden.
• CEO's statement indicates government support for primary critical raw material sources.

Negative

• None.

Vancouver, March 15, 2021 – Leading Edge Materials Corp. (“Leading Edge” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) welcomes last week’s announcement from the Swedish Government¹ on the launch of a governmental review of permitting processes and regulations to ensure a sustainable supply of critical raw materials from primary and secondary sources.

A press release from Ibrahim Baylan, Minister for Business, Industry and Innovation, announced the appointment of a special reviewer tasked with delivering a report based on their findings. The press release highlights the importance of critical raw materials for Swedish industry and especially those that are required to succeed with the climate transition. Wind power, electric vehicle batteries and other technologies that drive the change to a fossil free society are expected to increase demand for critical raw materials.

Minister Ibrahim Baylan is quoted in the press release stating: “The green transition increases the demand for raw materials from the mining and minerals industry. We need to change regulations and permitting processes to ensure a sustainable supply of innovation critical metals and minerals.”

The governmental review is to be completed by October 2022 at the latest and is tasked to analyze and propose changes to permitting processes and regulations so that;

• A better balance is considered between a projects local environmental impact and its benefit to greater society, for example through reduced global climate impact.
• A larger share of the value add generated from the mining and minerals industry is shared with the whole country, whilst at the same time ensuring that the total tax burden is not increased, and so that the investment attractiveness of Sweden is not negatively impacted.

Filip Kozlowski, CEO of Leading Edge states “It is not the first time we have seen the launch of a governmental review to address the complicated permitting processes in Sweden, but this recent announcement will now cover the Mining Act and clearly highlights the need for primary critical raw material sources and the importance of those to Swedish industry and the country’s goal to achieve climate neutrality. One of the primary objectives of the European Raw Materials Alliance and the European Battery Alliance is to unlock regulatory bottlenecks in order for Europe to become more self-reliant on critical raw materials and we commend the Swedish Government for being at the forefront of this for the benefit of European industrial ecosystems.”

On behalf of the Board of Directors,
Leading Edge Materials Corp.

Filip Kozlowski, CEO

For further information, please contact the Company at:
info@leadingedgematerials.com
www.leadingedgematerials.com

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About Leading Edge Materials

Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on 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 that underpin the clean energy transition towards climate neutrality. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Kärr HREE project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).

Additional Information

The information was submitted for publication through the agency of the contact person set out above, on March 15, 2020 at 7.15am Vancouver time.

Leading Edge Materials is listed on the TSXV under the symbol “LEM”, OTCQB under the symbol “LEMIF” and Nasdaq First North Stockholm under the symbol "LEMSE".  Mangold Fondkommission AB is the Company’s Certified Adviser on Nasdaq First North and may be contacted via email CA@mangold.se or by phone +46 (0) 8 5030 1550.

Reader Advisory

This news release may contain statements which constitute “forward-looking information” under applicable Canadian securities laws, including statements regarding plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company.  The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking information. Investors are cautioned that any such forward-looking information is not a guarantee of future business activities and involves risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking information as a result of various factors, including, but not limited to, fluctuations in market prices, risks relating to the inability of the parties to satisfy the conditions precedent to the closing of the Agreement, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

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¹ https://www.regeringen.se/pressmeddelanden/2021/03/utredning-om-att-sakerstalla-en-hallbar-forsorjning-av-innovationskritiska-metaller-och-mineral/

 

 

Attachment

• 20210315 LEM welcomes governmental review of permitting to ensure supply of critical raw materials

FAQ

What is the recent announcement from the Swedish Government regarding Leading Edge Materials Corp. (LEMIF)?

The Swedish Government announced a review of permitting processes to ensure a sustainable supply of critical raw materials, which is crucial for industries like electric vehicles and wind power.

When is the governmental review of permitting processes expected to be completed?

The governmental review is expected to be completed by October 2022.

How does the Swedish Government's review impact Leading Edge Materials Corp. (LEMIF)?

The review may lead to improved regulatory frameworks, benefiting the mining and minerals industry and aligning with the company's goals in critical raw materials.

What focus areas will the governmental review address for critical raw materials?

The review will look at balancing local environmental impacts with societal benefits and sharing more value from the mining sector without increasing the overall tax burden.