Heavy Rare Earth Global Crisis Spotlights Norra Karr in Sweden

Executive Summary

• Leading Edge Materials Corp. provides a progress update on its Norra Kärr Heavy Rare Earth Elements (HREE) Project in Sweden, highlighting the strategic urgency of European HREE supply chains amidst geopolitical tensions and shortages.
• The company outlines the strategic importance of Norra Kärr, citing Swedish Geological Survey (SGU) recognition of the deposit as one of Europe's richest for HREEs, and notes that a mining lease decision from the Mining Inspectorate is expected soon.
• Operational updates include ongoing testwork with SGS Lakefield for mineral processing, a resource upgrade program led by SRK, and the opening of a "Project Café" for stakeholder engagement to promote transparency regarding the project's reduced environmental footprint.

Key Details

• Strategic Context: The release references a Reuters article (Nov 19, 2025) and comments from Vaccumschmelze CEO regarding the critical shortage of Dysprosium and Terbium. It cites a 2014 ERECON report identifying Norra Kärr as one of two "best known" advanced-stage REE projects in Europe capable of securing supply.
• Regulatory Status: The SGU has designated Norra Kärr as being of National Interest. The Mining Inspectorate circulated supplementary information for the 25-year Exploitation Concession (mining lease) to the County Administrative Boards of Jönköping and Östergötland in October 2025. A decision is anticipated in the near future.
• Production Estimates: Norra Kärr is estimated to produce 248 tonnes of Dysprosium oxide and 36 tonnes of Terbium oxide annually over an initial 26-year mine life. This covers only 30% of the currently defined resource, which remains open for expansion.
• Competitive Benchmarking: The release compares Norra Kärr’s potential output to Lynas Rare Earths’ expanded facility in Malaysia (250 tonnes Dysprosium, 50 tonnes Terbium nameplate capacity). It also notes government support for competitors, including a USD 8.5 billion U.S.-Australia deal for Lynas, USD 400 million in preferred stock for MP Materials, and a USD 150 million loan to MP.
• Technical Workstreams:
  • Testwork: SGS Lakefield is conducting testwork in Canada on mineral processing, comminution, magnetic separation, and mineral liberation to produce higher-grade eudialyte concentrates for HREEs and nepheline syenite for customer samples.
  • Resource Upgrade: SRK’s Qualified Person has visited the site. A work program is underway to upgrade the Inferred Mineral Resource Estimate (effective Aug 18, 2021). The current mine plan is based on a Probable Mineral Reserve of 23.5 Mt at 0.59% TREO (NI 43-101, Jan 13, 2015).
• Stakeholder Engagement: Greenna Mineral AB opened a "Project Café" in Gränna to facilitate dialogue with the local community. The company highlights a 65% reduction in operational footprint due to the elimination of chemical processing from the site, aiming to reduce environmental impact on Lake Vättern.

Notable Quotes

• Kurt Budge, CEO: “The stakes have never been clearer. This Autumn brought crucial conversations across Europe... The message was unmistakable: geopolitics isn't just shaping the critical raw materials agenda—it's defining it.”
• Kurt Budge, CEO: “Norra Kärr’s significance has never been more self-evident when you compare it to Lynas' nameplate capacity... If Europe is serious about regional heavy rare earth production, then putting Norra Kärr into production isn't optional, it is essential.”