{"id":6338,"date":"2024-02-26T02:50:42","date_gmt":"2024-02-26T02:50:42","guid":{"rendered":"https:\/\/economicherald.net\/?p=6338"},"modified":"2024-02-26T02:50:42","modified_gmt":"2024-02-26T02:50:42","slug":"aura-energy-upbeat-as-swedish-government-initiates-inquiry-to-overturn-uranium-mining-ban","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6338","title":{"rendered":"Aura Energy upbeat as Swedish government initiates inquiry to overturn uranium mining ban"},"content":{"rendered":"<p>The Swedish Government has announced an inquiry into the current ban on mining uranium in the country<br \/>\nAura Energy\u2019s H\u00e4gg\u00e5n project hosts uranium resources of ~800Mlb U3O8<br \/>\nCompany strongly supports safe and environmentally responsible extraction of uranium in Sweden, which has been banned since 2018.<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: Aura Energy says it strongly supports the Swedish Government\u2019s inquiry into potentially overturning the existing ban on uranium mining in the country. <\/strong><\/p>\n<p>The Swedish government announced the move on 23 February, as the historically anti-nuclear country looks to increase nuclear investment and make way for greater energy capacity.<\/p>\n<p>The existing ban on uranium mining has been in place since 2018.<\/p>\n<p>Minister for Climate and the Environment Romina Pourmokhtari said Sweden needs to use the uranium it has, rather than sorting it out and considering it as waste, if the European Union is to become the first climate-neutral continent.<\/p>\n<p>The current Swedish Government plans to build at least <a href=\"https:\/\/www.theguardian.com\/world\/2023\/aug\/10\/sweden-criticised-over-plan-to-build-at-least-10-new-nuclear-reactors#:~:text=Sweden%20criticised%20over%20plan%20to%20build%20at%20least%2010%20new%20nuclear%20reactors,-Environmental%20experts%20say&amp;text=Environmental%20experts%20have%20criticised%20the,late%20to%20meet%20energy%20needs.\">at least 10 large reactors over the next 20 years<\/a> in a bid to meet the forecast demand for low-carbon energy.<\/p>\n<p>The Swedish inquiry will conclude on 15 May 2024, at which point the government can proceed to lift the ban on uranium mining.<\/p>\n<p>It will investigate the regulatory changes needed to make uranium extraction legal and analyse whether uranium mining should be allowed when it is not a nuclear activity.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Positive move for uranium miners <\/strong><\/h2>\n<p>For companies operating in the Nordic country, such as <a href=\"https:\/\/stockhead.com.au\/company\/aura-energy-aee\/\">Aura Energy (ASX:AEE)<\/a>, the announcement represents a logical step towards allowing the extraction of uranium domestically.<\/p>\n<p>\u201cIt is the start of a process which I hope will result in new legislation that not only makes it legally possible to mine uranium, but also provides a predictable permit process for uranium extraction alongside the mining of other metals,\u201d AEE managing director and chief executive Andrew Grove says.<\/p>\n<p>\u201cThe H\u00e4gg\u00e5n project is a polymetallic asset where uranium is only a minor component, although a component with significant value for Sweden.<\/p>\n<p>\u201cIt makes sense economically and environmentally to make full use of these resources.\u201d<\/p>\n<p>AEE\u2019s H\u00e4gg\u00e5n project consists of vanadium, sulphate of potash, uranium, nickel, molybdenum and zinc. Approximately 14% of the known value of the asset \u2013 located in the municipality of Berg \u2013 is uranium.<\/p>\n<p>Officially adding uranium to the mix has the potential to lift H\u00e4gg\u00e5n\u2019s net-present value (NPV) by 37%, according to AEE. The company says it will also add an additional 14% to revenue from the current scoping study NPV range of US$456 million to US$1.307 billion.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Strengthening European energy supply <\/strong><\/h2>\n<p>AEE now intends to file for processing concession (exploitation permit) for H\u00e4gg\u00e5n later this year.<\/p>\n<p>Grove says releasing the value of uranium within the H\u00e4gg\u00e5n project will have a \u201csignificantly positive economic impact on an already robust project\u201d.<\/p>\n<p>\u201cThe Swedish Government\u2019s stated aim aligns well with the ability to mine domestic uranium, reducing foreign dependency and strengthening domestic and European energy supply,\u201d he says.<\/p>\n<p>\u201cIt is of course essential that uranium is mined in a way that does not threaten the local environment or water supply, and I am certain that we will be able to demonstrate that within the framework of the Swedish permit process.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Aura Energy, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/aura-energy-upbeat-as-swedish-government-initiates-inquiry-to-overturn-uranium-mining-ban\/\">Aura Energy upbeat as Swedish government initiates inquiry to overturn uranium mining ban<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>The Swedish Government has announced an inquiry into the current ban on mining uranium in the country Aura Energy\u2019s H\u00e4gg\u00e5n project hosts uranium resources of <a href=\"https:\/\/economicherald.net\/?p=6338\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6339,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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