Aura Energy (ASX:AEE) is bullish on one geopolitical movement this year perhaps swept under the rug of Trumpian chaos – the company’s eyeing a Swedish government vote set for this year to overturn the jurisdiction’s uranium mining ban.
The Nordic country’s coalition government is currently heading towards a referral process to vote on overturning the ban, wherein it appears enthusiasm to overturn an existing uranium ban has defined some lawmakers’ worldview.
This follows a 2024 government-led inquiry which ultimately recommended the government start re-allowing Swedish uranium miners to extract the country’s natural resources.
(According to David Dalton, a writer for nuclear trade publication Nucnet, the inquiry has pointed towards Jan 1 2026 as a milestone for the ban to be overturned in legislation.)
The kicker here is that the ban doesn’t harmonise with Sweden’s energy security goals, given that it imports the uranium it uses to fuel its nuclear power plants.
The issue with that is Sweden’s energy generation mix is entirely one third nuclear and in a world where Russia has invaded Ukraine, European energy supply chains have all been re-drawn. Now it’s time for Sweden to do the same.
And that would bode well for Aura: it oversees its Hagan project in the country which it calls the fourth largest uranium project globally. (The company attaches a foot-note to that claim.)
Underpinning the company’s confidence is that it reports recent discussions with lawmakers in Stockholm ahead of what is expected to be a vote later this year, the conclusion of the inquiry process.
“The Swedish Government’s step towards lifting the uranium mining ban mark a transformational moment for the country’s energy future,” company chief Phil Mitchell said.
Aura plans to keep engaging with Sweden’s government throughout 2025, including a planned investor symposium event. The company will team up with Aussie-based privately-held Neu Horizon Uranium. which also has interests in Sweden, in collaborating on the country’s nuclear industry broadly.
AEE last traded at 13cps.
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