Wedoany.com Report-Jun 3, Australian mineral company Aura Energy and Neu Horizon Uranium Limited, an unlisted public company based in Australia, have agreed to form a strategic partnership to advance uranium resource development in Sweden, contingent on the country lifting its uranium mining ban. The collaboration focuses on regulatory engagement, technical cooperation, and operational efficiency.

The Häggån deposit, pictured in October 2013

Aura Energy holds the Häggån project in Sweden, which includes vanadium, potash, and uranium deposits. The project is recognized as one of the world’s largest undeveloped uranium resources, with an Inferred Mineral Resource of 800 million pounds of U3O8 (307,718 tonnes of uranium). Neu Horizon Uranium owns a portfolio of promising uranium projects in Sweden’s mineral-rich regions.

Under the agreement, Aura Energy will invest AUD100,000 (USD64,930) for a minority stake in Neu Horizon Uranium. The partnership will involve joint efforts in engaging with government and regulatory bodies, advancing uranium extraction and processing technologies, and streamlining administrative processes to enhance efficiency. Aura Energy Chair Phil Mitchell stated: “The Swedish government’s step towards lifting the uranium mining ban marks a transformational moment for the country’s energy future. Aura Energy is proud to be playing a leadership role in advancing Sweden’s uranium sector. Our collaboration with Neu Horizon Uranium positions us to capitalize on the country’s exceptional geological endowment and support its uranium ambitions.”

Sweden has prohibited uranium exploration and mining since 2018. However, in February of the previous year, Climate and Environment Minister Romina Pourmokhtari announced a government inquiry to review the ban. In December, the inquiry recommended lifting the prohibition to allow uranium mining under the Minerals Act, similar to other natural resources. The Swedish government is now preparing legislation, expected to be presented to Parliament for enactment on January 1, 2026.

Neu Horizon Uranium Chair Martin Holland remarked: “Every now and again, along comes an incredible opportunity in mining. This is happening in Sweden with uranium in 2025. Our collaboration with Aura Energy is a strategic step towards unlocking Sweden’s uranium potential. Sweden holds large quantities of uranium resources, and this collaboration will facilitate progress in regulatory engagement and technical advancements, aligning with Sweden’s vision for energy security.”

The partnership aims to leverage Sweden’s significant uranium resources to support the country’s energy goals, combining Aura Energy’s expertise with Neu Horizon Uranium’s regional assets to drive sustainable development in the sector.