VANCOUVER, BC, Oct. 30, 2020 /PRNewswire/ – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company“) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) has commissioned Zenito Limited (“Zenito”), a UK based engineering consultancy1, and a range of sub-consultants to produce a Preliminary Economic Assessment study (the “PEA”) on the Woxna Graphite project (the “Project”).
The Company has previously completed a number of testwork programs2 3 4 focused on thermal purification and spheronization of the various graphite size products available in the Woxna mine concentrate in order to maximize recovery and increase the potential value of saleable products. The PEA will for the first time include the previously developed downstream processes utilizing thermal purification that could enable the Project to produce a range of ultra-high purity natural graphite products suitable for the lithium-ion battery market.
Filip Kozlowski, CEO states “With the recent launch of the European Raw Materials Alliance and an expected introduction of EU regulations later this year on sustainable raw materials for the battery industry the timing is right to demonstrate how a secure and sustainable source of natural graphite to supply the emerging European battery industry could look like in operational and financial terms.”
The Woxna Graphite Mine is one of the few graphite mines in Europe. Due to depressed market prices of traditional graphite concentrate prices production has been halted while the Company executed on research and development work on downstream value-add processing that could produce higher value graphite products for emerging high-growth industries. The electrical and thermal properties of graphite have positioned it as a critical material in growing technologies such as electrodes for lithium-ion batteries, bipolar plates for fuel cells and thermal management foils for 5G.
Natural graphite is classified as a critical raw material by the European Commission due to its economic importance to European industrial ecosystems and a high risk of supply disruptions. China has a 69% share of global natural graphite supply5 but more importantly makes 100% of all natural graphite anode6 that goes to lithium ion batteries. To reduce reliance on third countries and achieve an open strategic autonomy the European Commission recently launched an Action Plan on critical raw materials7 and a European Raw Materials Alliance (“ERMA”)8. One objective of the Action Plan on critical raw materials is to identify mining and processing projects within the EU that can be operational by 2025.
It was recently revealed that the European Commission is looking table a new EU-wide battery regulation later this year that amongst other things will ensure that raw materials used for batteries in Europe follow strict ecological and labor norms9. Current graphite sources from third countries have been criticized in the past for having negative environmental and social impacts. Woxna Graphite being located in Sweden has access to low cost low carbon footprint hydropower which combined with the chosen thermal purification process for the project offers the potential to compete with global suppliers of graphite anode material by offering a minimal carbon footprint.
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).
Zenito is a UK based multidisciplinary engineering consultancy specializing in the design of mineral processing plants and associated infrastructure.
Relevant supporting documentation and 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, at October 30, 2020 at 06:00 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.
This news release may contain statements which constitute “forward-looking information” under applicable Canadian securities laws, including statements regarding the potential production of a range of ultra-high purity natural graphite products, the potential to compete with global suppliers of graphite anode material by offering a minimal carbon footprint; as well as 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.
SOURCE Leading Edge Materials