Swedish miner Boliden AB has been granted a mining concession for its large Laver copper deposit in northern Sweden, a key step in a project aimed at bolstering Europe's supply of the industrial metal.
The Swedish Mining Authority approved the concession, which grants Boliden the right to extract copper, gold, silver, and molybdenum, the company said Tuesday.
The Laver project, which Boliden began exploring more than a decade ago, will now advance to a new development phase.
"The Laver deposit has the potential to make a substantial contribution, particularly to Europe's copper supply," said Stefan Romedahl, Director of Boliden Mines.
He added that next steps include additional exploration, technical studies, and environmental investigations.
Boliden noted that a final investment decision is contingent on securing an environmental permit.
According to the company, the decision to grant the mining concession can be appealed to the government within three weeks.
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