European Green Transition plc has secured a three-year extension until March 2028 for the Pajala copper-graphite licences, Liviovaara 101 and Lehtosolka 101, in Northern Sweden.
DEVELOPMENT
The company said that “sufficient” work has been completed at the project for the Swedish mining authority to grant more time.
EGT plans to either sell or find a partner for Pajala.
“Securing the three year extensions on our Pajala copper-graphite project is a critical and timely step for EGT,” said non-executive chairman Daniel Akselson.
“The length of the extension term is a key factor for any potential incoming acquiror or partner, providing them with sufficient time to plan the next stage of project development.
“We remain focused on monetising both the Olserum rare earth and Pajala copper projects in Sweden as we focus our resources on acquiring revenue-generating businesses supporting the green energy transition.”
The company states that the Olserum district-scale project in Southern Sweden has the potential to be Europe’s first rare earth elements mine.