- Polymetallic miner District Metals (TSXV:DMX) is positioned to benefit following the Swedish Parliament’s decision on Wednesday to repeal a moratorium on uranium mining instituted in 2018
- District Metals is creating shareholder value through the exploration and development of mineral properties prospective for uranium, vanadium, molybdenum, nickel, copper and zinc
- The uranium-focused stock has added 347.06 per cent year-over-year
Polymetallic miner District Metals (TSXV:DMX) is positioned to benefit following the Swedish Parliament’s decision on Wednesday to repeal a moratorium on uranium exploration and production instituted in 2018.
Newly approved uranium mining legislation will come into effect on January 1, 2026, lending the Scandinavian nation a helping hand when it comes to strengthening its critical mineral supply chain and overall energy security. According to the Geological Survey of Sweden, the country is estimated to house 27 per cent of Europe’s uranium resources, making it a key driver of the bloc’s emission reduction goals.
District Metals has made decisive moves to capitalize on this expected legislative shift, including updating the resource estimate for its Viken energy metals deposit in April 2025 to 176 million pounds U3O8 indicated and 1.53 billion pounds U3O8 inferred – in addition to significant secondary resources of vanadium, nickel, molybdenum, copper and zinc – reinforcing its position as one of the largest undeveloped uranium resource in the world.
The company also completed surveys across its property portfolio, including at Viken, and the exploration-stage Österkälen and Ardnasvarre, with eyes on advancing numerous exploration programs in 2026 to harvest upside and substantiate an economic study of the Viken deposit.
Management commentary
“The Swedish Government’s consistent and thorough approach to lifting the uranium moratorium has now culminated in today’s historic vote to repeal the ban on uranium exploration and mining,” Garrett Ainsworth, chief executive officer of District Metals, said in a statement. “The legislative changes enabling uranium exploration and extraction are scheduled to take effect on January 1, 2026. We are very pleased with this decisive step, which positions Sweden to unlock its vast uranium resources in support of the green energy transition amid growing global geopolitical uncertainty.”
About District Metals
District Metals is creating shareholder value through the exploration and development of mineral properties prospective for uranium, vanadium, molybdenum, nickel, copper and zinc. The company is focused on a pair of projects in Sweden. Besides Viken, this includes the Tomtebo project, where two historic polymetallic mines and numerous showings reside along a 17 km trend that shares geology, structure, alteration and mineralization with large mines in the district.
District Metals stock (TSXV:DMX) is up by 11.76 per cent on the news trading at C$1.52 as of 11:16 am. The stock has added 347.06 per cent year-over-year.
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