Mining Press Roundup: Sweden Grants 25-Year Lease for Europe's Rare Earth Future

Leading Edge Materials secured a 25-year mining lease from the Swedish government for its Norra Kärr heavy rare earth project , marking what could become a watershed moment for European critical minerals independence. The project has the capacity to supply all of Europe's annual dysprosium requirements , positioning Sweden at the center of the continent's push to reduce reliance on Chinese rare earth imports.

Leading Edge Materials: Sweden Approves Norra Kärr Rare Earth Mine

The Swedish government granted the exploitation concession following formal recommendations from the Mining Inspectorate after all involved agencies endorsed or recommended approval . According to the company's announcement, the Geological Survey of Sweden confirmed that Norra Kärr is one of Europe's richest rare earth elements deposits, with a particularly high proportion of the most valuable heavy rare earth elements, including terbium, dysprosium and yttrium .

Heavy rare earth elements—dysprosium and terbium in particular—are essential inputs for the high-performance permanent magnets used in electric vehicle motors, wind turbines, defence systems and advanced robotics . With no REE production anywhere in the EU today, the Government concluded that supplying Sweden and Europe with these critical raw materials clearly outweighs competing land-use interests .

Norra Kärr is well-positioned to contribute directly to the objectives of the EU's Critical Raw Materials Act, including the bloc's target of sourcing 10% of its critical raw material consumption domestically by 2030 . The company will advance environmental permitting and begin active engagement with potential offtake partners and financiers , according to the announcement.

Greenland Resources: Canada Backs Malmbjerg Molybdenum Project

Greenland Resources received final approval for a $7 million non-repayable contribution from Natural Resources Canada's Critical Minerals Research, Development and Demonstration program . Canada is now the first G7 government to invest in mining in Greenland , according to the company.

According to Greenland Resources' feasibility study, the Malmbjerg project contains proven and probable reserves of 245 million tonnes of ore and is expected to produce an average of 32.8 million pounds of contained molybdenum annually during its first decade of production . The company says this output could supply about 25% of Europe's annual molybdenum demand and meet the defence sector's full molybdenum requirements .

The metallurgical program will evaluate the feasibility of processing primary molybdenum using saline and fresh water for flotation, as well as assess the potential recovery of magnesium and rare earth element as by-products . China imposed export controls on molybdenum in early 2025, heightening Western concern about supply security , according to Reuters.

Freeman Gold: Lemhi Project Economics Triple on Updated Feasibility Study

Freeman Gold announced completion of a feasibility study that gives Lemhi a post-tax net present value (discounted at 5%) of $696 million , according to the press release summary. The Idaho gold project has emerged as one of the most advanced development-stage assets in the U.S. mining sector.

The pit constrained Mineral Resource Estimate using a 0.20 gram per tonne gold cut-off comprises Measured and Indicated resources of 1,221,000 oz gold at 0.79 g/t in 48.310 million tonnes, with Inferred resources of 240,000 oz Au at 0.70 g/t in 10.683 million tonnes . The 2025 drill program was designed to convert the majority of inferred ounces within the 2023 pit-constrained resource into the Measured and Indicated categories, with the resulting increase highlighting the continued growth of the Lemhi Gold Deposit, which remains open in multiple directions , according to Freeman CEO Bassam Moubarak.

At US$2,200 per ounce gold, Lemhi was modeled to produce 75,900 ounces per year at an all-in sustaining cost of US$1,105 per ounce and a life-of-mine capital cost of US$215 million . With gold trading at $4,062/oz according to market data, the project's economics have improved substantially from the original preliminary economic assessment.

Nigeria: Major Lithium Discovery and Critical Minerals Province Unveiled

At the African Natural Resources and Energy Investment Summit in Abuja, Nigeria identified a new polymetallic mineral province in Kaduna state that contains high-grade deposits of platinum group metals, gold, nickel, copper, lithium, and rare earth elements . Nigeria's Minister of Solid Minerals Development, Dele Alake, said the Kaduna represents a "world-class" mineral province and one of the most significant developments in the country's mining sector in recent years .

The announcement coincided with the disclosure by Steron Mining that exploration work at its Abuja-area operation had identified approximately 3.3 million tonnes of lithium reserves . Company geologists said the broader project hosts an estimated 94.8 million tonnes of mineral resources, including lithium-bearing ore and granitic rock .

Chinese companies, including Jiuling Lithium and Canmax Technologies, have committed more than $1.3 billion toward processing facilities in the country, including Kaduna state, while foreign investors continue to acquire exploration and mining licences across several states , according to MINING.COM.

Tactical Resources: Texas Rare Earths Project Eyes Nasdaq Listing

Tactical Resources is advancing toward a Nasdaq debut as its Peak rare earths project in Texas progresses through a business combination with Plum Acquisition Corp. III. The Peak Project is one of only a few rare earth hard rock Direct-Leach-Extractable projects in the world, with initial quarry operating permits already in place , according to the company.

The Peak Project contains the rights to acquire REEs enriched tailings and stockpiled materials extracted from the Sierra Blanca Quarry, strategically located southeast of El Paso, Texas, with extensive infrastructure including easy highway, power, water, and rail line access . The Proposed Business Combination implies a pro forma enterprise value of $589 million .

The assets represent accumulated byproduct material from Sierra Blanca Quarry's two-decade-long ballast crushing operations—material which based on initial sampling and metallurgical testing indicates elevated levels of rare earth elements . The company views the project as strategically important for U.S. supply chain security in semiconductors, electric vehicles, and defense applications.

Bunker Hill: Idaho Silver Mine Ships First Ore

Bunker Hill Mining Corp. announced it is on the verge of producing its first saleable concentrate of silver, lead, and zinc, capping a years-long effort to resurrect the historic Idaho mine . The company plans to ramp mining towards the mill design level before reaching full production next year, according to the press release summary.

The restart of operations remains on schedule for the first half of 2026, targeting an initial throughput of 1,800 tonnes per day, with sustainable free cash flow anticipated in the second half of 2026 . During its 95-year run, Bunker Hill yielded 42.77 million tons of ore, boasting average grades of 8.43% lead, 4.52% zinc, and 3.52 ounces of silver per ton .

The Silver Valley mine represents a significant domestic source of critical minerals at a time when U.S. supply chain security has become a national priority. Management believes the Cate-8 vein discovery could help restore a 50% silver, 50% base-metal mix earlier than expected, with proximity to existing workings potentially affecting 2027-2028 silver production .

What It Means

Today's announcements reveal a mining sector increasingly shaped by geopolitical imperatives. Three of the most significant stories—Sweden's Norra Kärr rare earths, Greenland's Malmbjerg molybdenum, and Nigeria's Kaduna critical minerals province—directly address Western efforts to diversify supply chains away from Chinese dominance.

The rare earths theme is particularly striking. Sweden's approval of Norra Kärr comes as Europe has zero domestic rare earth production, while Tactical Resources' Texas project advances toward public markets with a near-$600 million valuation. Both projects emphasize heavy rare earths essential for permanent magnets in electric vehicles and defense systems—precisely the materials where China maintains the strongest grip on global supply.

Meanwhile, gold projects continue to attract capital in a strong price environment. With gold trading above $4,000/oz according to market data, Freeman Gold's tripling of Lemhi's NPV to $696 million demonstrates how rising metal prices are transforming project economics for well-positioned juniors. The company's updated resource estimate and feasibility study position it among the most advanced U.S. gold development projects.

Africa's emergence as a critical minerals frontier gained momentum with Nigeria's dual announcements of the Kaduna polymetallic province and the 3.3 million tonne lithium discovery near Abuja. The timing—at a major African investment summit with over $1.3 billion in Chinese processing commitments already secured—signals that the continent's mineral wealth is becoming a focal point for global competition.

This roundup covers press releases published on June 29, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.