Tasman’s HREE project gets the ‘green light’ as Swedish Government confirms mining lease for Norra Karr
Tasman Metals Ltd. (“Tasman”, TSXV: TSM; FRANKFURT: T61; NYSE MKT: TAS) has announced that despite efforts from some stakeholders to appeal a 25 year mining lease for its Nora Karr heavy rare earth element (REE) project, the Swedish Ministry of Industry (Näringsdepartementet) has confirmed its Mining Lease. All appeals against the project were unsuccessful and that the Lease’s validity may no longer be challenged. Tasman holds the lease for an initial period of 25 years. When the mine becomes operational, the lease will automatically be renewable in 10-year increments. Tasman says there are some 70 million tons of ore at Norra Karr and with an annual mining rate of 1.5 million tons a year; the company expects the mine could run 40 years.
Get our daily investorintel update