12th May 2025 14:06
European Green Transition PLC - developing green economy assets in Europe, such as a copper-graphite and rare earth mining projects in Sweden - Receives four-year extension for the Olserum no 21 licence at the Olserum rare earth elements project in Sweden by Bergsstaten, the Swedish Mining authority. The licence now runs to June 2029.
Chair & Co-Founder Cathal Friel says: "Geopolitical uncertainty has highlighted the urgent need for Europe to establish a secure supply of REEs to support European industry. There are currently no active rare earth elements mines in Europe, and we believe the Olserum REE project will be of critical strategic importance to the region in the years ahead.
"This license extension is a considerable step in our plans to monetise the Olserum project, as we seek to reallocate resources towards pursuing near-term revenue generating opportunities. We believe Olserum is one of Europe's most attractive rare earth assets and the receipt of a four-year license extension validates the work we have completed to date and strengthens the company's position in ongoing discussions with a third party through sale or partnership."
Current stock price: 7.45 pence, up 2.8% on Monday afternoon in London
12-month change: down 53%
By Tom Budszus, Alliance News slot editor
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