REG - Aura Energy Limited - Swedish Parliament votes to overturn uranium ban

Aura EnergyAnnouncement

06/11/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251106:nRSF4023Ga&default-theme=true

RNS Number : 4023G  Aura Energy Limited  06 November 2025

 

 

                                                                                             6 November 2025
 Swedish Parliament votes to overturn uranium mining ban

HIGHLIGHTS

Aura Energy Limited (ASX: AEE, AIM: AURA) ('Aura' or the 'Company') is pleased
to advise on the 5(th) of November 2025, the Parliament of Sweden voted to
overturn the uranium mining ban, which has been in place since 2018. The
lifting of the ban will come into effect on January 1(st), 2026. Following
this, uranium will be regulated as a concession mineral under the Minerals
Act, meaning that it will become embedded within the conventional permit
process for mining in Sweden.

 

 

Commentary

Phil Mitchell, Executive Chairman, said:

"This vote means that from now on uranium has the potential to be an important
contributor to Sweden's economy and energy security, and to support the
region's intention to triple nuclear power 1 . Given that Sweden has 27
percent of Europe's known uranium within its bedrock 2 , the commercial
potential is significant. For polymetallic projects such as Häggån, 100%
owned by Aura, the change in legislation has the potential to add substantial
value and reinforce investor interest in continuing to develop the Häggån
project.

We have been consistently open about the fact that we would like to extract
uranium in a safe and environmentally friendly manner from the Häggån
deposit. It is economically sensible, more resource efficient and less
environmentally wasteful to use Swedish uranium to support the country's
nuclear ambitions and a global nuclear renaissance, rather than treat it as a
waste component to the Häggån polymetallic deposit as currently required."

The change in legislation means that it will be possible to apply for permits
to explore for and extract uranium from January 1(st), 2026. In September
2023, the Company published a Scoping study for Häggån 3  which was
constrained by the uranium mining prohibition. The Company will now examine
options to include uranium in its future plans and will increase its
investment in exploration activity in Sweden.

The market outlook for uranium remains strong, with the World Nuclear
Association highlighting in its reference case an annual growth rate of 5.3
per cent in nuclear reactor uranium requirements. This creates a supply
deficit to be covered by as yet unspecified sources of 193M lbs U(3)O(8), or
49 per cent of demand by 2040 4 .

Häggån contains a global-scale 2.0Bt vanadium, sulphate of potash
(SOP)(( 5 )) and uranium resource at grades of 0.3% V(2)O(5), 3.8% K(2)O and
155 ppm U(3)O(8) at a cut-off grade of 0.2% V(2)O(5)(( 6 )). Utilising only 3%
of the resource, a 2023 Scoping Study(( 7 )) outlined a 17-year mine life
based on a 3.6Mtpa throughput.

Included in the global Mineral Resource published on 22 August 2012,
"Outstanding Häggån uranium resource expands to 800 million pounds"(6) is an
Inferred Mineral Resource of 2.35 billion tonnes with U(3)O(8) grade of 155ppm
at a cut-off of 100ppm U(3)O(8), for contained U(3)O(8) of 800 M lbs. This
information was prepared and first disclosed under the JORC Code 2004. It has
not been updated since to comply with the JORC Code 2012 on the basis that the
information has not materially changed since it was last reported.

There is a low level of geological confidence associated with Inferred Mineral
Resources and there is no certainty that further exploration work will result
in the determination of Indicated Mineral Resources or that the production
target itself will be realised.

The Company is not aware of any new information or data that materially
affects the estimates of the Häggån Mineral Resources Estimates. All
material assumptions and technical parameters underpinning the estimates in
the relevant market announcement continue to apply and have not materially
changed.

In August 2024, Aura Energy's Swedish subsidiary Vanadis Battery Metals
applied for an exploitation permit for Häggån K1 with the Swedish Mining
Inspectorate. After January 1(st) 2026 that application could be updated and
then re-submitted to also include uranium.

 

ENDS

Authorisation for release

This announcement is authorised for release by the Board of Aura Energy
Limited

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").

For further information, please contact:

 

 Philip Mitchell        SP Angel Corporate Finance LLP  Tamesis Partners LLP

 Executive Chair        Nominated Adviser               Broker

 Aura Energy Limited    David Hignell                   Charlie Bendon

 pmitchell@auraee.com   Adam Cowl & Devik Mehta         Richard Greenfield

 +44 7771 317302        +44 203 470 0470                +44 203 882 2868

 

About Aura Energy (ASX: AEE, AIM: AURA)

Aura Energy is an Australian-based mineral company with major uranium and
polymetallic projects in Africa and Europe.

The Company is focused on developing a uranium mine at the Tiris Uranium
Project, a major greenfield uranium discovery in Mauritania.

Aura plans to transition from a uranium explorer to a uranium producer to
capitalise on the rapidly growing demand for nuclear power as the world shifts
towards a decarbonised energy sector.

Beyond the Tiris Project, Aura owns 100% of the Häggån Project in Sweden.
Häggån contains a global-scale 2.0Bt vanadium, sulphate of potash (SOP) 8 
and uranium 9  resource. Utilising only 3% of the resource, a 2023 Scoping
Study 10  outlined a 17-year mine life based on a 3.6Mtpa production rate.

Included in the global Mineral Resource published on 22 August 2012,
"Outstanding Häggån uranium resource expands to 800 million pounds" is an
Inferred Mineral Resource of 2.35 billion tonnes with U(3)O(8) grade of 155ppm
at a cut-off of 100ppm U(3)O(8), for contained U(3)O(8) of 800 Mlbs. This
information was prepared and first disclosed under the JORC Code 2004. It has
not been updated since to comply with the JORC Code 2012 on the basis that the
information has not materially changed since it was last reported.

There is a low level of geological confidence associated with Inferred Mineral
Resources and there is no certainty that further exploration work will result
in the determination of Indicated Mineral Resources or that the production
target itself will be realised.

The Company is not aware of any new information or data that materially
affects the estimates of the Häggån Mineral Resources Estimates. All
material assumptions and technical parameters underpinning the estimates in
the relevant market announcement continue to apply and have not materially
changed.

Disclaimer Regarding Forward-Looking Statements

This ASX announcement (Announcement) contains various forward-looking
statements. All statements other than statements of historical fact are
forward-looking statements. Forward-looking statements are inherently subject
to uncertainties in that they may be affected by a variety of known and
unknown risks, variables and factors which could cause actual values or
results, performance or achievements to differ materially from the
expectations described in such forward-looking statements. The Company does
not give any assurance or guarantee that the anticipated
results, performance or achievements expressed or implied in those
forward-looking statements will be achieved.

The Company has concluded that it has a reasonable basis for providing the
forward-looking statements and production targets included in this
announcement and that material assumptions remain unchanged. The detailed
reasons for this conclusion are outlined throughout this announcement, and in
the ASX and AIM announcement:

1.     5 September 2023 - Scoping Study Confirms Scale and Optionality of
Häggån

The Company confirms that it is not aware of any new information materially
affecting the information included in the ASX and AIM announcements:

1.     22 Aug 2012 - Outstanding Häggån Uranium Resource expands to 800
million pounds

2.     10 Oct 2019 - Häggån Battery Metal Project Resource Upgrade
Estimate

All material assumptions and technical parameters underpinning the Tiris and
Häggån Project Mineral Resources Estimates continue to apply. The Company
confirms that the form and context in which the Competent Person's findings
are presented have not been materially modified from the original market
announcements.

 

 

 

 

Appendix 1: Mineral Resource statement

 

Häggån Mineral Resource (JORC 2012)(1) - V(2)O(5) cut-off grades
 V(2)O(5)      Class      Tonnes  V(2)O(5)  K(2)O  Mo      Ni      Zn      V(2)O(5)

 (cut-off %)              (Mt)    (%)       (%)    (ppm)   (ppm)   (ppm)   (Mlbs)
 0.1           Indicated  45      0.34      4.11   213     365     501     332
               Inferred   2,503   0.27      3.37   200     312     433     14,873
 0.2           Indicated  42      0.35      4.13   217     375     512     320
               Inferred   1,963   0.30      3.80   212     337     463     13,010
 0.3           Indicated  61      0.38      4.22   223     398     536     258
               Inferred   954     0.35      3.95   226     374     503     7,390
 0.4           Indicated  11      0.44      4.46   225     429     580     101
               Inferred   113     0.43      4.25   232     419     562     1,072

1          For further information please refer to the ASX and AIM
Release: 10 October 2019 - Häggån Battery Metal Project Resource Upgrade
Estimate Successfully Completed
(https://protect.checkpoint.com/v2/r04/___https:/api.investi.com.au/fundfsstzshjrjsyxdfjjdk79ch*~*g6-jbc.uik___.Y3A0YTplbi1hZWU6YzpvOjU0MWU5ZjJmNjFlOTc1NzE1YThkYzk3M2RhMzY0NWU2Ojc6MjMxZDphZTFkYmZiOGVmYTg4MDI4NGZiZjI3YTQwM2QyZmZmMmE2YTZiMzBlMDQyZDJjNDEwZjA2Njg5MGZmYTFlYjA2OnA6VDpU)
.

There is a low level of geological confidence associated with Inferred Mineral
Resources and there is no certainty that further exploration work will result
in the determination of Indicated Mineral Resources or that the production
target itself will be realised.

 
Häggån Mineral Resource (JORC 2004)(2) - 100ppm U(3)O(8) cut-off grade
 U(3)O(8) (100ppm cut-off)  Tonnes (Mt)  U(3)O(8) (ppm)  Mo      V       Ni      Zn      U(3)O(8) (Mlbs)

(ppm)
(ppm)
(ppm)
(ppm)
 Inferred                   2,350        155             207     1,519   316     431     800

Contained metal shown for U(3)O(8) only.

Significant figures quoted do not imply precision and are to minimise
round-off errors.

There is a low level of geological confidence associated with Inferred Mineral
Resources and there is no certainty that further exploration work will result
in the determination of Indicated Mineral Resources or that the production
target itself will be realised.

 

2          For further information please refer to the ASX and AIM
Release: 22 August 2012 - Outstanding Häggån Uranium Resource expands to 800
million pounds
(https://protect.checkpoint.com/v2/r04/___https:/cdn-api.markitdigital.com/funrfs-lfyjBfDdFX2dfxC-wjxjfwhmd6.5dknqjd7cc/-5687/69b-*~*F*~*55c*~*7&A=9f9*~2*hh8kbccj55a85hkgkhi/fgbc95h96k9a9g*~*___.Y3A0YTplbi1hZWU6YzpvOjU0MWU5ZjJmNjFlOTc1NzE1YThkYzk3M2RhMzY0NWU2Ojc6Yzg4NDphNjVlMTU2Zjk0MmI2YWYwMGM4MjMwNDIwNDhhYWQ1OGUxZWE2YjVkYjk0MmYxN2IyYWRiM2NkYThmY2Y4NGJkOnA6VDpU)
.

 

 

 1  Source: Baltic Nuclear Conference, October 2025

(( 2 )) Geological Survey of Sweden (SGU)

 

 3  ASX and AIM Release: 5 Sept 2023 - Scoping Study Confirms Scale and
Optionality of Häggån

(( 4 )) World Nuclear Association: World Nuclear Fuel Report: Global Scenarios
for Demand and Supply Availability 2025-2040

 5  ASX and AIM Release: 10 Oct 2019 - Häggån Battery Metal Project Resource
Upgrade Estimate

 6  ASX and AIM Release: 22 Aug 2012 - Outstanding Häggån Uranium Resource
expands to 800 million pounds

 7  ASX and AIM Release: 5 Sept 2023 - Scoping Study Confirms Scale and
Optionality of Häggån

 8  ASX and AIM Release: 10 Oct 2019 - Häggån Battery Metal Project Resource
Upgrade Estimate

 9  ASX and AIM Release: 22 Aug 2012 - Outstanding Häggån Uranium Resource
expands to 800 million pounds

 10  ASX and AIM Release: 5 Sept 2023 - Scoping Study Confirms Scale and
Optionality of Häggån

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFZMGMFKKGKZZ



            Copyright 2019 Regulatory News Service, all rights reserved