Sweden’s Parliament has voted to overturn its uranium mining ban, effective January 2026, paving the way for Aura Energy to fully develop its polymetallic Häggån project with uranium extraction now permitted.
- Swedish Parliament overturns uranium mining ban effective January 1, 2026
- Uranium regulated under Minerals Act, enabling conventional mining permits
- Aura Energy’s Häggån project contains 800 million pounds of uranium resource
- Aura plans to include uranium in development and increase exploration investment
- Strong global uranium demand supports Aura’s strategic shift towards production
Legislative Shift Opens New Chapter for Swedish Uranium
On November 5, 2025, the Swedish Parliament voted to overturn the country’s uranium mining ban that has been in place since 2018. This pivotal decision, effective from January 1, 2026, reclassifies uranium as a concession mineral under Sweden’s Minerals Act, integrating it into the standard permitting framework for mining activities. For Aura Energy Limited, which owns the polymetallic Häggån project in Sweden, this legislative change significantly enhances the commercial viability of its uranium resources.
Aura Energy’s Strategic Opportunity
Phil Mitchell, Executive Chairman of Aura Energy, highlighted the importance of this development, noting that uranium could become a key contributor to Sweden’s economy and energy security. Sweden aims to triple its nuclear power capacity, and with 27% of Europe’s known uranium reserves located within its borders, the potential is substantial. Aura’s Häggån project, which contains a large polymetallic resource including vanadium, sulphate of potash, and uranium, stands to benefit from the ability to extract uranium safely and sustainably.
Previously, uranium at Häggån was treated as a waste component due to the ban, limiting the project’s value. Now, Aura plans to revise its development strategy to incorporate uranium extraction, which is both economically sensible and environmentally efficient. The company intends to increase its exploration investment in Sweden to capitalize on this new opportunity.
Resource Scale and Market Context
The Häggån deposit boasts an inferred uranium resource of approximately 800 million pounds of U3O8, contained within 2.35 billion tonnes of ore at a grade of 155 ppm. While the resource classification carries a low geological confidence level, the scale is globally significant. A 2023 scoping study, constrained by the prior uranium ban, outlined a 17-year mine life based on processing just 3% of the total resource.
Market fundamentals for uranium remain robust. The World Nuclear Association projects a 5.3% annual growth rate in uranium demand through 2040, driven by expanding nuclear reactor fleets worldwide. This growth is expected to create a supply deficit, underscoring the strategic importance of unlocking new uranium sources like Häggån.
Next Steps and Regulatory Outlook
Aura’s Swedish subsidiary, Vanadis Battery Metals, has already applied for an exploitation permit for part of the Häggån project. Following the ban’s repeal, this application can be updated to include uranium extraction. The company’s ability to secure permits and advance development will be closely watched by investors and the market alike.
While the legislative change is a clear positive, uncertainties remain. The inferred status of the uranium resource means further exploration is needed to upgrade confidence levels and confirm economic viability. Additionally, environmental and regulatory compliance will be critical in ensuring the project’s sustainable progression.
Bottom Line?
Sweden’s policy reversal unlocks new uranium value for Aura Energy, but exploration and permits will test the project’s true potential.
Questions in the middle?
- How quickly can Aura upgrade the uranium resource classification at Häggån?
- What timeline and hurdles lie ahead for securing uranium mining permits post-ban?
- How will global uranium market dynamics influence Aura’s investment and production plans?