Mawson Gold (TSX-V:MAW) has welcomed the Swedish Ministry of Climate and Enterprise’s announcement regarding proposed changes to uranium mining legislation in Sweden as it seeks to divest its subsidiary holding uranium assets.
The Swedish Government has taken a step toward lifting the uranium mining moratorium that has been in place since 2018, with the release of findings from a comprehensive inquiry on 20 December 2024.
The inquiry recommends uranium be regulated as a concession mineral within the Swedish Minerals Act; the current ban be overturned; a written consultation period to run until 20 March; new legislation proposed to take effect 1 January 2026.
Mawson’s portfolio of historic Swedish uranium assets is held via a wholly owned subsidiary, SUA Holdings.
On 10 January 2025, as part of the final steps of its reorganisation plan and prior to the closing of the scheme of arrangement with Southern Cross Gold (ASX:SXG), Mawson will distribute all of its SUA shares to Mawson shareholders after which SUA will cease to be a subsidiary.
SUA will become a public corporation and reporting issuer in British Columbia, Alberta, and Ontario. Subject to final legislative changes, it is positioned to become a standalone company focused on uranium exploration and development opportunities in Sweden, the company says.
Executive Chairman Michael Hudson says the Swedish Government’s announcement represents a significant development for both Mawson and SUA.
“This aligns with Sweden’s broader energy strategy and commitment to expanding nuclear power capacity. Mawson has been selected as one of the consultation parties for the uranium inquiry, and we look forward to engaging constructively in the process to help shape a robust regulatory framework that balances resource development with environmental stewardship,” Hudson says.
The proposed legislative changes would restore the pre-2018 regulatory framework for uranium mining in Sweden.
Sweden currently operates six nuclear reactors providing approximately 29% of the country’s electricity. The country has explicitly recognised the critical role of uranium and strategic mineral investments in bolstering national and European energy independence.
Hudson notes that the government’s renewed approach to uranium mining reflects a broader strategic vision to attract international investments in the mining sector, positioning Sweden as a key player in critical minerals development.
On 13 December 2024, Southern Cross Gold announced it had obtained shareholder approval to the proposed scheme of arrangement for Mawson to acquire the remaining ordinary shares it does not currently own.
Write to Adam Orlando at Mining.com.au
Images: Mawson
