European Action Plan on Critical Raw Materials and Launch of European Raw Materials Alliance
European Action Plan on Critical Raw Materials and Launch of
European Raw Materials Alliance
VANCOUVER, BC, Sept. 4, 2020 /CNW/ - Leading Edge Materials Corp. ("Leading Edge Materials" or the "Company") (TSXV: LEM) (Nasdaq First
North: LEMSE) (OTCQB: LEMIF) welcomes the launch of a European Raw Materials Alliance ("ERMA") which was announced by the European
Commission as part of an Action Plan on Critical Raw Materials1.
The Action Plan on Critical Raw Materials is aimed to develop resilient value chains for European Union ("EU") industrial ecosystems, reduce dependency
on primary critical raw materials, strengthen domestic sourcing of raw materials in the EU, and diversify sourcing from third countries and remove
distortions to international trade. The European Commission outlines ten concrete actions to achieve these ambitions, the first being the establishment of
a European Raw Materials Alliance in the coming weeks. All relevant stakeholders will be brought together in the alliance which will initially focus on rare
earth and magnet value chains as these are viewed as the most pressing need. The alliance can later expand to other critical raw material and base
metal needs as required. In addition, the Commission will focus to make better use of domestic resources in the EU by identifying mining and processing
projects within the EU that can be operational by 2025.
These new announcements follow a range of earlier initiatives by the EU to address raw materials resilience for the region. The European Green Deal
targeting climate neutrality by 2050 identifies the supply of sustainable raw materials as a strategic security question for the EU to deliver on the Green
Deal2. Critical Raw Materials necessary for clean technologies, digital, space and defence applications are in particular highlighted as a pre-requisite to
make this transition happen. In support of the European Green Deal the European Commission subsequently announced a new Industrial Strategy
towards a globally competitive, green and digital Europe3. A secure and sustainable supply of critical raw materials was again highlighted as key to
enable Europe's twin transition towards climate neutrality and digital leadership. Finally, the EU Recovery Plan has identified critical raw materials as one
of the areas for strategic investment to strengthen crucial markets such as e-mobility, batteries, renewable energies, aerospace and defence and to
create a more resilient European Union4.
Filip Kozlowski, CEO states "The European Commission is showing significant resolve to achieve a European open strategic autonomy in the areas
crucial for the Green Deal and a globally competitive, green and digital Europe. Leading Edge Materials has sent a letter to the European Commission
endorsing the establishment of the European Raw Materials Alliance and is looking forward to working together with all relevant stakeholders in the
alliance towards a more secure and sustainable raw materials supply for European industrial value chains. Our Norra Karr project is recognized as a
world-class heavy rare earth deposit and could be a key asset to supply a European magnet industry."
Norra Karr is one of the world's principal heavy REE resources, with an unusual enrichment in the most critical REEs that are essential for high strength
permanent magnets (dysprosium (Dy), terbium (Tb), neodymium (Nd) and praseodymium (Pr). Permanent magnets are directly linked and critical to the
energy transition due to their applications in electric motors and wind power. Located in southern Sweden approximately 300km SW of Stockholm close
to extensive existing infrastructure, Norra Kärr is the only heavy REE deposit of note within the European Union (see ERECON project, 2015) and
provides the EU with the long-term opportunity to reduce reliance on imported REE. On August 27, 2020, the Company announced the start of a
Preliminary Economic Assessment study on Norra Karr.
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1 https://ec.europa.eu/com m ission/presscorner/detail/en/IP _20_1542
2 https://eur-lex.europa.eu/legal-content/E N /TXT/?qid=1588580774040&uri=C E LE X:52019D C 0640
3 https://eur-lex.europa.eu/legal-content/E N /TXT/?qid=1593086905382&uri=C E LE X:52020D C 0102
4 https://ec.europa.eu/info/live-work-travel-eu/health/coronavirus-response/recovery-plan-europe_en
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Filip Kozlowski, CEO
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 lithium-ion batteries and permanent magnets for electric motors and wind power that underpin the sustainability transition of
society. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Karr HREE project (Sweden), Bergby lithium project
(Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).
Additional Information
The Company's consolidated financial statements and related management's discussion and analysis are available on the Company's website at
www.leadingedgematerials.com or under its profile on SEDAR at www.sedar.com
The information was submitted for publication through the agency of the contact person set out above, on September 4, 2020, at 3:00 am 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
[email protected] 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 the Company's expectation on the launch of a European Raw Materials Alliance, the Company's expectations regarding the
updated Norra Karr Preliminary Economic Assessment; as well as the 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, 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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For further information:
1.604.685.9316, [email protected], www.leadingedgematerials.com
CO: Leading Edge Materials
CNW 06:00e 04-SEP-20