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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Sweden is fast-tracking a plan to lift its ban on uranium mining to support the expansion of nuclear power and enhance its energy security.
Minister for Climate and Environment Romina Pourmokhtari has announced a rapid investigation to abolish the ban on uranium extraction that was introduced in 2018 by a different government. "More than a quarter of Europe's known resources of uranium are found in Sweden's bedrock," she said. "Today, it is not possible to grant either an exploration permit, a processing concession or an environmental permit regarding uranium. Uranium mining must in future be tested according to relevant environmental legislation, which means that the current ban on uranium mining must be removed."
She added: "The purpose of the investigation is to remove a ban that is not needed. Extraction of uranium must be handled in the same way as extraction of other metals, where the environmental assessment determines the conditions under which it can be permitted. Uranium often occurs together with other metals and today must be sorted and handled as waste. If the European Union (EU) is to become the first climate-neutral continent, access to sustainable metals and minerals must be ensured. We need to use the uranium we have, instead of sorting it out and considering it as waste, as now - due to the current ban on uranium mining." A report will be submitted in May.
Industrial Info first reported on plans to lift the ban in September, shortly after the government announced plans to build up to 10 more nuclear power reactors over the coming two decades. For additional information, see August 21, 2023, article - Sweden to Build 10 Nuclear Power Reactors.
The move was welcomed by those in the mining community, including Australian company Aura Energy (Queensland, Australia), which is sitting on potentially the world's second largest uranium deposit at the Haggan Vanadium-Uranium Project. Today, it has to discard any uranium found while mining other minerals. "The Swedish Government's stated aim aligns well with the ability to mine domestic uranium, reducing foreign dependency and strengthening domestic and European energy supply," commented Aura Chief Executive Officer, Andy Grove. "It 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."
Aura said that the Haggan mining operation contains approximately 800 million pounds (lbs) of uranium (U3O8). The primary metals and minerals in Haggan are vanadium and sulfate of potash, along with uranium, nickel, molybdenum and zinc. Approximately 14% of the known value of the asset is uranium. Grove said: "Global energy demand continues to rise, and the need for carbon-free, reliable baseload electricity generation means that a renaissance for nuclear power is under way globally. This announcement is a logical step by the Swedish government towards allowing the extraction of uranium domestically to secure its own and others' needs."
Canada's District Metals (Vancouver) has 100% ownership of the Viken Energy Metals Deposit in Sweden, which is amongst the largest deposits of uranium and vanadium in the world, based on total historic mineral resources. Garrett Ainsworth, chief executive officer, stated: "We are very pleased with this official statement from the Swedish Government and believe it is a significant step towards lifting the current uranium mining moratorium in Sweden. On February 15 a rapid investigation into lifting the uranium moratorium was initiated and shall be reported no later than May 15. The Swedish Government has made its intentions clear by stating that 'the current ban on uranium mining will be removed. District is ready for this transformational decision with our portfolio of properties in Sweden."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Minister for Climate and Environment Romina Pourmokhtari has announced a rapid investigation to abolish the ban on uranium extraction that was introduced in 2018 by a different government. "More than a quarter of Europe's known resources of uranium are found in Sweden's bedrock," she said. "Today, it is not possible to grant either an exploration permit, a processing concession or an environmental permit regarding uranium. Uranium mining must in future be tested according to relevant environmental legislation, which means that the current ban on uranium mining must be removed."
She added: "The purpose of the investigation is to remove a ban that is not needed. Extraction of uranium must be handled in the same way as extraction of other metals, where the environmental assessment determines the conditions under which it can be permitted. Uranium often occurs together with other metals and today must be sorted and handled as waste. If the European Union (EU) is to become the first climate-neutral continent, access to sustainable metals and minerals must be ensured. We need to use the uranium we have, instead of sorting it out and considering it as waste, as now - due to the current ban on uranium mining." A report will be submitted in May.
Industrial Info first reported on plans to lift the ban in September, shortly after the government announced plans to build up to 10 more nuclear power reactors over the coming two decades. For additional information, see August 21, 2023, article - Sweden to Build 10 Nuclear Power Reactors.
The move was welcomed by those in the mining community, including Australian company Aura Energy (Queensland, Australia), which is sitting on potentially the world's second largest uranium deposit at the Haggan Vanadium-Uranium Project. Today, it has to discard any uranium found while mining other minerals. "The Swedish Government's stated aim aligns well with the ability to mine domestic uranium, reducing foreign dependency and strengthening domestic and European energy supply," commented Aura Chief Executive Officer, Andy Grove. "It 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."
Aura said that the Haggan mining operation contains approximately 800 million pounds (lbs) of uranium (U3O8). The primary metals and minerals in Haggan are vanadium and sulfate of potash, along with uranium, nickel, molybdenum and zinc. Approximately 14% of the known value of the asset is uranium. Grove said: "Global energy demand continues to rise, and the need for carbon-free, reliable baseload electricity generation means that a renaissance for nuclear power is under way globally. This announcement is a logical step by the Swedish government towards allowing the extraction of uranium domestically to secure its own and others' needs."
Canada's District Metals (Vancouver) has 100% ownership of the Viken Energy Metals Deposit in Sweden, which is amongst the largest deposits of uranium and vanadium in the world, based on total historic mineral resources. Garrett Ainsworth, chief executive officer, stated: "We are very pleased with this official statement from the Swedish Government and believe it is a significant step towards lifting the current uranium mining moratorium in Sweden. On February 15 a rapid investigation into lifting the uranium moratorium was initiated and shall be reported no later than May 15. The Swedish Government has made its intentions clear by stating that 'the current ban on uranium mining will be removed. District is ready for this transformational decision with our portfolio of properties in Sweden."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
