The Swedish government has announced an investigation into the feasibility of lifting the ban on uranium mining, in place since 2018. This decision seeks to guarantee access to sustainable energy resources and strengthen energy security in the country.
An essential decision for uranium mining
The Ministry of Climate and Enterprise will lead the research, assessing the changes needed to enable the euranium extraction and establish the conditions for its responsible for its responsible development. It will be analyzed whether the review should be limited to mining for nuclear purposes. The investigation will culminate on May 15, when the government will make a final decision.
The Swedish Climate Minister, Romina Pourmokhtari, stresses the importance of this step: “If the European Union wants to be climate neutral, access to sustainable minerals and metals is crucial. We must take advantage of the available uranium, instead of discarding it, as is the case now because of the current ban.“. Sweden possesses a quarter of Europe’s known uranium resources, so resuming production could strengthen the continent’s energy self-sufficiency.
Uranium mining development and opportunities
The Australian company Aura Energy has expressed its enthusiasm for the announcement, as it hopes to exploit the Haggan uranium deposit in Sweden. This deposit contains around 800 million pounds of U₃O₈, which, according to Aura, would increase its revenues by 14%. The project is estimated to have a net present value of between US$456 million and US$1.3 billion.
Andrew Grove, CEO of Aura Energy, says: “Llobal energy demand continues to grow, and the need for reliable, carbon-free, baseload power generation is driving a global renaissance of nuclear energy. The Swedish government’s decision is a logical step to allow domestic uranium mining to meet its needs and those of other countries.“.
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Source: Mining Techonology
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