Collaboration aims to develop Swedish uranium deposits

Monday, 2 June 2025

Aura Energy owns the Häggån vanadium, potash and uranium project in Sweden, which is claimed to be "one of the largest undeveloped uranium resources globally" with an Inferred Mineral Resource of 800 million pounds of contained U3O8 (307,718 tU).

Neu Horizon Uranium is an Australian-based unlisted public company focused on advancing Sweden's uranium resources. The company holds a portfolio of high potential uranium projects in key mineralised regions of Sweden.

The two companies have agreed to enter into a collaboration agreement under which Aura Energy will invest AUD100,000 (USD64,930) for a minority stake in Neu Horizon Uranium. The two companies will collaborate on key initiatives, including: government and regulatory engagement; technical cooperation on uranium extraction and processing; and administrative synergies to enhance operational efficiency.

Uranium exploration and mining has been prohibited in Sweden since 2018, but in February last year Climate and Environment Minister Romina Pourmokhtari announced that a government inquiry would look into abolishing the ban. In December, the inquiry concluded that Sweden should remove its prohibition on uranium mining to allow it to be exploited like other natural resources regulated under the Minerals Act. The government is now working through legislative process to change the legislation which is expected to be presented to Parliament for enactment on 1 January 2026. 

"The Swedish government's step towards lifting the uranium mining ban mark a transformational moment for the country's energy future," said Aura Energy Chair Phil Mitchell. "Aura Energy is proud to be playing a leadership role in advancing Sweden's uranium sector. Our collaboration with Neu Horizon Uranium positions us to capitalise on the country's exceptional geological endowment and support its uranium ambitions."

Neu Horizon Uranium Chair Martin Holland added: "Every now and again, along comes an incredible opportunity in mining. This is happening in Sweden with uranium in 2025. Our collaboration with Aura Energy is a strategic step towards unlocking Sweden's uranium potential. Sweden holds large quantities of uranium resources, and this collaboration will facilitate progress in regulatory engagement and technical advancements, aligning with Sweden's vision for energy security."