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Leading Edge Materials shares surge as Swedish gov't takes positive stance on critical metals

Scandinavia- focused LEM has significant mining and exploration assets for such materials in Sweden
Leading Edge Materials shares surge as Swedish gov't takes positive stance on critical metals
LEM said that a fourth government funded project entitled "Graphene Energy" had been started

Leading Edge Materials Corp (CVE:LEM) has welcomed  the Swedish government's willingness to play a supporting role in the development of the critical metals industry.

The view was expressed in an in-depth study, which analysed the role the administration can play in the future supply chain for a range of materials, including rare earth elements, lithium, graphite and tungsten.

Scandinavia- focused LEM has significant mining and exploration assets for such materials in Sweden, and indeed, is currently seeking a Swedish listing on the  Nasdaq First North market.

"We commend the Swedish Government for taking a long-range view on the mining and minerals industries, recognizing that new materials in addition to current ones shall be mined and recovered in Sweden in the near future," said Blair Way, the firm's president and chief executive.

"Innovation critical metals and minerals are relatively small volume but high value markets, yet they underpin the development of very extensive value add supply chains in renewable energy generation, storage and conservation.

"Many of these materials are presently mined in an unsustainable way in other parts of the world, and Sweden is taking positive steps towards becoming a global leader in sustainable mining of these new materials."

Also, in today's release, LEM said that a fourth government funded project entitled "Graphene Energy" had been started.

This aims to apply graphene from LEM's Woxna graphite facility to enhance the electrical conductivity and the mechanical strength of lithium ion battery anodes.

Leading Edge Materials shares added almost 11% in Toronto, to stand at C$0.71 each, before falling back to C$0.67 later in the session.

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