Sweden to lift ban on uranium mining

Stockholm, Sweden. Parliament building at Helgeandsholmen island. Stock image.

Sweden’s Climate Minister, Romina Pourmokhtari, has unveiled plans to lift the nation’s ban on uranium mining, thereby paving the way for an expanded nuclear energy capacity.

Pourmokhtari told The Times that a majority within the t supports the ban’s removal.

The government has outlined the construction of a minimum of ten large reactors within the next two decades.

In January, Swedish Prime Minister Ulf Kristersson shared with reporters that the government is in the process of “altering the legislation,” which will encourage heightened nuclear investment within the country.

Sweden’s nuclear power reactors provide about 40% of its electricity.

In 1980, the government decided to phase out nuclear power. Thirty years later, in June 2010, Parliament voted to repeal this policy.

“The government is aiming at doubling electricity production in 20 years,” Pourmokhtari told The Times.

Sweden accounts for 80% of the European Union’s uranium deposits and currently engages in uranium extraction as a byproduct during the mining of other metals.

Aura Energy and Vancouver-based District Metals (TSXV: DMX) have expressed interest in developing uranium projects in the country. District’s Viken, Tåsjö, Ardnasvarre and Sågtjärn projects Sweden all host uranium mineralization. 

In terms of other minerals regarded as essential for the transition to zero emission technologies, Sweden is also believed to host Europe’s largest deposit of rare earths