Basin Energy Doubles Swedish Uranium Land Amid Ban Lift Momentum

Exploration Momentum Builds in Northern Sweden

Basin Energy Limited (ASX: BSN) has reported encouraging progress in its Scandinavian uranium exploration program, particularly across its Northern Sweden projects. Recent fieldwork has identified promising structural features beneath a thin glacial cover, which were previously overlooked due to limited historic exploration focused mainly on outcrops. This discovery has prompted Basin to apply for an expanded exploration area between its Björkberget and Rävaberget projects, potentially doubling its landholdings in the Arvidsjaur-Arjeplog uranium district.

The company is eagerly awaiting results from a recent geochemical rock chip sampling program, which involved 45 grab samples analyzed for multiple elements. These results are expected imminently and could validate the presence of concealed mineralisation, further enhancing the prospectivity of Basin’s tenure.

Regulatory Shift Favors Uranium Development

In a significant policy development, the Swedish government has recommended lifting the longstanding ban on uranium mining. This move aligns with Sweden’s broader strategy to secure domestic sources of critical minerals essential for green energy technologies and to support an increased reliance on nuclear power as a clean, stable energy source. Basin Energy’s Managing Director, Pete Moorhouse, highlighted the strategic importance of this shift, noting that Sweden’s uranium potential remains largely untapped with virtually no modern exploration conducted in the company’s project areas.

The lifting of the ban is expected to create a more favorable regulatory environment for Basin and other explorers, potentially accelerating project development timelines and attracting further investment into the region’s uranium sector.

Advancing Scandinavian Portfolio Acquisition

Complementing its exploration activities, Basin Energy is nearing completion of its acquisition of Normetco AS, which holds a portfolio of green energy metals projects across Sweden and Finland. This strategic acquisition, announced in October 2024, will expand Basin’s footprint into multiple highly prospective licenses targeting a range of commodities including uranium. The transaction involves issuing shares and options, with all material conditions precedent satisfied and only administrative steps remaining.

This acquisition positions Basin as a more diversified green metals explorer with exposure to critical minerals vital for the energy transition, enhancing its growth prospects beyond uranium alone.

Unlocking Hidden Potential Through Historic Data

Basin’s field teams have also located significant quantities of historic drill core from the district, which are in excellent condition and now undergoing structural relogging and geochemical analysis. This re-examination of legacy data could reveal new insights into mineralisation controls and support the identification of additional targets beneath glacial cover, a factor that may have constrained previous exploration efforts.

With modern analytical techniques applied to these historic cores, Basin is well placed to refine its exploration model and prioritise drill targets in the coming months.

Looking Ahead

As Basin Energy awaits the outcomes of its sampling program and the Swedish government’s formal legislative changes, the company stands at a pivotal juncture. The combination of expanding land holdings, regulatory reform, and strategic acquisitions could catalyse a new phase of growth for Basin in the Scandinavian uranium sector, complementing its Canadian Athabasca Basin projects.