District Metals-Sweden removes key permitting barrier for uranium mining-06/16/2026

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District Metals-Sweden removes key permitting barrier for uranium mining-06/16/2026

District Metals

SPONSORED RESEARCH NEWSFLASH | 16 JUN 2026

Sweden removes key permitting barrier for uranium mining

Yesterday, the Swedish Parliament approved the government's proposal to treat the extraction and processing of nuclear

materials, including uranium, on the same basis as other metals and minerals within the overall permitting process. By doing

this, Sweden has essentially abolished the municipal veto for uranium mining, eliminating what was one of the most critical

regulatory risks for DMX. The changes are taking effect on July 15, 2026. The key outstanding uncertainty is a parallel

government inquiry, initiated June 11, 2026, that is exploring ways to strengthen municipal influence over concession

processing for minerals found in Alum Shale deposits. While the stated ambition is to achieve this without reintroducing any

form of veto mechanism, the inquiry's conclusions could still result in additional procedural requirements for projects such

as Viken. Important to note is that in 2020, an inquiry was carried out by the government to assess a possible ban on mining

of Alum Shales. The results came back that mining of Alum Shales should not be banned, and that it does not present any

increased environmental risk compared to other mining of other mineral deposits in Sweden. In conclusion, yesterday’s

vote marks a material improvement in the regulatory outlook and represents one of the most signi1cant de-risking of the

Viken project to date. The policy backdrop is increasingly supportive, and the key focus going forward will be the company's

next steps in the permitting process and the outcome of the parallel Alum Shale inquiry. Buy, TP CAD 1.1-1.3 (SEK 7.1-8.5)