Aura Energy remains confident that the Swedish Government will lift a ban on uranium mining after the Minister of Energy and Enterprise Ebba Busch made supportive comments.
Following the Industry Committee of the Swedish parliament’s vote to reject a number of private members’ motions supporting an immediate lifting of the ban on uranium mining, Busch expressed support for uranium mining.
She noted that the previous ideological stance against uranium mining was wrong, which was why several parties – including her Christian Democrats party – had opposed the vote which passed the ban.
Busch added that there was “enormous” hypocrisy from many parties in Sweden that were keen for nuclear power but did not want to take responsibility for which countries the uranium came from.
Aura Energy (ASX:AEE) also noted that rejection of the motions by the Industry Committee does not represent any change of policy or direction by the Government.
It highlighted that all four parties that make up the ruling conservative coalition have stated that they support lifting the ban on mining uranium and were reported in January to have secured a majority to do so.
Haggan vanadium-uranium project
Should the ban be lifted, it will pave the way for the company to develop its Häggån vanadium-uranium project in Jämtland county into a giant battery metals complex.
This will leverage the current resource of 6.8Mt of vanadium pentoxide and 360,000t of uranium oxide to produce vanadium for the battery sector with uranium as a byproduct.
This article was developed in collaboration with Aura Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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