While Sweden’s push to overturn its decades-long ban on uranium mining is gathering momentum, Australia’s Aura Energy is deepening its commitment to the country's nuclear future through a strategic partnership with unlisted Australian company Neu Horizon Uranium.

Aura, which already owns the Häggån uranium project in Sweden, will invest A$100 000 in Neu Horizon for a minority stake as part of a broader collaboration to advance uranium development and policy reform in the Nordic nation.

The two companies will collaborate on regulatory engagement, technical cooperation, and investor outreach, including a planned uranium-focused symposium in Stockholm in 2025. Aura said it has held “constructive discussions” with members of the country’s governing coalition.

"The Swedish government’s step towards lifting the uranium mining ban mark a transformational moment for the country’s energy future,” said Aura chair Phil Mitchell. “Aura Energy is proud to 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.”

Sweden, which currently imports all its uranium despite generating a third of its electricity from nuclear power, has announced plans to double nuclear capacity as part of its energy transition strategy. A December 2024 inquiry recommended uranium be reclassified under the Minerals Act, enabling mining licences. A vote in Parliament is expected in 2025, with potential legislative change taking effect from January 2026.

“The policy shift aligns mining regulations with Sweden’s broader energy strategy,” Aura said in a statement. “Allowing uranium extraction will enhance energy security, create jobs, and promote economic growth.”

The Häggån deposit, located in central Sweden, contains an inferred 800-million-pound uranium oxide resource, making it one of the world’s largest undeveloped uranium assets. Sweden’s domestic uranium demand is estimated at around 1 500 t/y.

Neu Horizon Uranium holds a portfolio of projects across Sweden’s underexplored uranium belts, including the Vilhelmina, Ravenberget, and Gillberget projects. Several sites show historic high-grade uranium mineralisation and remain largely untested with modern exploration tools.

"Every now and again, along comes an incredible opportunity in mining,” said Neu Horizon chairperson Martin Holland. “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."

Neu Horizon plans to list on the ASX in late 2025 or early 2026, subject to market conditions and regulatory approval.