Aura Energy Limited (AURA): Häggån uranium legislation and permitting

This situation live

AURA Aura Energy Limited

£44m · 3.8p · −63% since the first step

20 Oct 2025 · Ongoing under Executive Chair · −3% until the next step specifically regarding critical current workflows including funding discussions with the U.S. International Development Finance Corporation and potential strategic partners.

22 Oct 2025 · Advanced non-binding talks; DFC needs execution readiness · +14% until the next step Aura is targeting the finalisation of multiple funding and investment options in Q1 2026 to support anticipated FID timing in 1H 2026.

6 Nov 2025 · Parliament voted to lift ban; effective January 2026 · −22% until the next step After January 1st 2026 that application could be updated and then re-submitted to also include uranium.

23 Dec 2025 · Basic engineering ongoing, due Q2 2026 · +40% until the next step Basic Engineering work is ongoing and expected to complete in Q2 2026, which may impact upon processes and economics.

23 Jan 2026 · Ban repealed 1 Jan 2026; funding vehicle agreed · +0% until the next step On 1 January 2026, the Minerals Act in Sweden was amended to allow exploration for and extraction of uranium

30 Jan 2026 · DFC talks advancing; DFC can now take equity · −45% until the next step Debt funding discussions with the U.S. International Development Finance Corporation ("DFC") continue to advance. DFC is now also authorised to make equity investments.

13 Mar 2026 · DFC talks advancing; non-binding · +33% until the next step DFC's credit determination requires the Project to be execution ready, including finalised construction and supply contracts (such as the Engineering Procurement Construction Management ("EPCM") contr

24 Apr 2026 · SGU proposes national interest designation; consultation open · −6% until the next step Consultation period with designated stakeholders until 3 June 2026 -with SGU's Director General making the final designation decision following the referral process, locking in long-term protection fo

30 Apr 2026 · Non-binding offer and MOU; DFC talks continue · −7% until the next step The Company also hosted a site visit in Mauritania with a significant potential Strategic Investor and reciprocated with a senior team visiting the potential investor during which a comprehensive non-

2 Jun 2026 · Non-binding MOU signed 2 June 2026 · −11% until the next step The parties have agreed an indicative, non-binding timeline, targeting a commercial agreement on or before 31 December 2026, with any required board and regulatory approvals targeted by 30 June 2027.

17 Jun 2026 · Parliament passed law; effective 15 July 2026 · −12% until the next step The legislative changes to the Nuclear Activities Act are expected to take effect on 15 July 2026.

16 Jul 2026 · Law enacted 15 July 2026; SGU decision pending · +9% until the next step On 15 July the legislative changes to the Nuclear Activities Act were enacted as expected.

31 Jul 2026 · Non-binding MOU; DFC talks advancing · −12% until the next step The parties are negotiating a binding commercial agreement by year-end.

12 Aug 2026 · Non-binding MOU; DFC talks advancing · −5% until the next step Aura remains on track to complete the Bankable Feasibility Study and Information Memorandum in September 2026 and to conclude project financing by the end of 2026.

30 Sep 2026 · FID now stated as Q4 2026 · −3% until the next step The Company’s current development timetable reflects the deferral of the Final Investment Decision, now targeted for Q4 2026.

1 Oct 2026 · BFS slightly delayed to mid-October · −10% until the next step Some final engineering estimates have slightly delayed the BFS for Tiris, and it will now be issued by mid-October 2026[1].

16 Oct 2026 · Due diligence and term sheet talks; nothing binding · −11% since The parties continue to negotiate toward a binding commercial agreement, targeted by year-end.

16 Oct 2026 · Permit pending; Swedish government change · −11% since Advanced senior debt discussions with the US DFC (about US$150–170 million) and a non-binding MOU with a major nuclear utility, targeting FID in December 2026

Project milestones

Häggån uranium legislation and permitting

Permit pending; Swedish government change

FEB28 Next: Alum shale inquiry report to government; new Swedish government vote in 127 days

Every step · 18

20 Oct 2025 Ongoing under Executive Chair – specifically regarding critical current workflows including funding discussions with the U.S. International Development Finance Corporation and potential... ↗
22 Oct 2025 Advanced non-binding talks; DFC needs execution readiness – Aura is targeting the finalisation of multiple funding and investment options in Q1 2026 to support anticipated FID timing in 1H 2026. ↗
6 Nov 2025 Parliament voted to lift ban; effective January 2026 – After January 1st 2026 that application could be updated and then re-submitted to also include uranium. ↗
23 Dec 2025 Basic engineering ongoing, due Q2 2026 – Basic Engineering work is ongoing and expected to complete in Q2 2026, which may impact upon processes and economics. ↗
23 Jan 2026 Ban repealed 1 Jan 2026; funding vehicle agreed – On 1 January 2026, the Minerals Act in Sweden was amended to allow exploration for and extraction of uranium ↗
30 Jan 2026 DFC talks advancing; DFC can now take equity – Debt funding discussions with the U.S. International Development Finance Corporation ("DFC") continue to advance. DFC is now also authorised to make equity... ↗
13 Mar 2026 DFC talks advancing; non-binding – DFC's credit determination requires the Project to be execution ready, including finalised construction and supply contracts (such as the Engineering... ↗
24 Apr 2026 SGU proposes national interest designation; consultation open – Consultation period with designated stakeholders until 3 June 2026 -with SGU's Director General making the final designation decision following the referral... ↗
30 Apr 2026 Non-binding offer and MOU; DFC talks continue – The Company also hosted a site visit in Mauritania with a significant potential Strategic Investor and reciprocated with a senior team visiting the... ↗
2 Jun 2026 Non-binding MOU signed 2 June 2026 – The parties have agreed an indicative, non-binding timeline, targeting a commercial agreement on or before 31 December 2026, with any required board and... ↗
17 Jun 2026 Parliament passed law; effective 15 July 2026 – The legislative changes to the Nuclear Activities Act are expected to take effect on 15 July 2026. ↗
16 Jul 2026 Law enacted 15 July 2026; SGU decision pending – On 15 July the legislative changes to the Nuclear Activities Act were enacted as expected. ↗
31 Jul 2026 Non-binding MOU; DFC talks advancing – The parties are negotiating a binding commercial agreement by year-end. ↗
12 Aug 2026 Non-binding MOU; DFC talks advancing – Aura remains on track to complete the Bankable Feasibility Study and Information Memorandum in September 2026 and to conclude project financing by the end of 2026. ↗
30 Sep 2026 FID now stated as Q4 2026 – The Company’s current development timetable reflects the deferral of the Final Investment Decision, now targeted for Q4 2026. ↗
1 Oct 2026 BFS slightly delayed to mid-October – Some final engineering estimates have slightly delayed the BFS for Tiris, and it will now be issued by mid-October 2026[1]. ↗
16 Oct 2026 Due diligence and term sheet talks; nothing binding – The parties continue to negotiate toward a binding commercial agreement, targeted by year-end. ↗
16 Oct 2026 Permit pending; Swedish government change – Advanced senior debt discussions with the US DFC (about US$150–170 million) and a non-binding MOU with a major nuclear utility, targeting FID in December 2026 ↗

What is happening

Aura Energy Limited: Häggån uranium legislation and permitting – Permit pending; Swedish government change. ['Permit pending; Swedish government change']

In short: Sweden lifted its uranium ban in January 2026 and the Nuclear Activities Act change was enacted on 15 July 2026. The August 2024 exploitation permit application remains under consideration. The 13 September 2026 election cost the coalition its majority, with a Social Democrat government vote on 15 October 2026 and no political initiatives until a new government is in place.
Announced: 20 Oct 2025 · Ongoing under Executive Chair
Latest: 16 Oct 2026 · Advanced DFC talks; nothing binding
SGU decision: Final designation decision expected later this year
Permit application: Häggån K nr 1 exploitation permit submitted August 2024; under consideration
Exploration licence: Häggån no 1 remains valid
Company view: Believes applications will be considered favourably
Election: 13 September 2026; right-centred coalition lost majority, 173 seats versus 176
Government vote: Parliament votes 15 October 2026 on Andersson as PM of a Social Democrat government
Alum shale inquiry: Reports to government no later than February 2027
Permit: Exploitation permit application submitted August 2024; under consideration

What comes next

Alum shale inquiry report to government; new Swedish government vote (28 Feb 2027).

Briefing Pro

New to Aura Energy Limited? Get up to speed in 2 minutes.

What it does, how it got here, what management promised and delivered – written from its own announcements.

Get the AURA briefing →

From the company's own announcements. Not investment advice.

Also at Aura Energy Limited 2 open

Disposal of a part (break-up)Häggån transfer to SIU Metals – Completion deferred (announced 12 Mar 2026) New CEO / resetManagement transition and CEO succession – Executive Chair running operations; no new CEO Dilutive fundraiseAura capital raising – Completed 2 Feb 2026; cash A$19.2m · closed Aura Energy Limited – company page →