The Swedish Geological Survey decided this week that Talga Resources’ (ASX:TLG) Vittangi graphite project should be designated a mineral deposit of national interest.
Under the Swedish Environmental Code, deposits of valuable substances or materials can be defined as being of national interest, meaning municipalities and central government agencies may not authorize activities that might prevent or significantly hinder exploitation of the mineral deposit.
The national interest area covers the entirety of Talga’s currently defined Vittangi graphite resources and undrilled extensional deposits. The decision takes note of the European Commission’s listing of graphite as a critical raw material and their warning that a lack of access to such critical commodities could slow the development of fossil-free energy sources.
“The SGU noted the Vittangi graphite deposit’s significance to the country’s supply capacity and its special material properties and concluded the deposit constitutes a unique natural asset of valuable substances or materials,” Talga said in a media statement.
“Further, they consider locally produced graphite could help strengthen the competitiveness of the Swedish battery manufacturing industry and that, as the known highest grade graphite deposit in the world, Vittangi could ‘meet a great need not only within Sweden but internationally’.”
Vittangi is located approximately 20 kilometres east of LKAB’s iron ore mine and railhead at Svappavaara. The project has a total JORC resource of 12.3Mt at 25.5% graphite (“Cg”), the highest resource grade of any JORC/NI 43-101 graphite deposit in the world.