Aura Energy is the owner of the Häggån polymetallic mining project in Sweden, which the company says contains more than 800 million pounds of uranium.

Vote unlocks new options

Aura executive chairman Phil Mitchell said the vote in the Swedish parliament was naturally positive for the company, and it looked forward to becoming a supplier into what was an increasingly demand-driven nuclear energy market.

Mr Mitchell said in a statement to the ASX:

This vote means that from now on uranium has the potential to be an important contributor to Sweden's economy and energy security, and to support the region's intention to triple nuclear power. Given that Sweden has 27% of Europe's known uranium within its bedrock, the commercial potential is significant. For polymetallic projects such as Häggån, 100% owned by Aura, the change in legislation has the potential to add substantial value and reinforce investor interest in continuing to develop the Häggån project.

Aura said in its annual report that the Häggån project had the potential to be a globally-significant mine, which, in addition to uranium, would produce vanadium, zinc, nickel, and potash.

The project would have a mine life of 17 years and a payback period of 1.5 to 2 years, the annual report says.

The report goes on to say:

The Häggån project has the potential to become a cornerstone of Sweden's future nuclear energy supply chain and a key contributor to the European Union's critical minerals strategy.  

Mr Mitchell said in the statement to the ASX on Thursday that it made sense to process the uranium at its project, which otherwise would have been treated as a waste by-product.

He added that the company would increase its investment in exploration activity in Sweden following the ban being revoked.

The Swedish ban on uranium mining will be lifted on 1 January 2026.

Aura also has African interests

Aura Energy also owns an 85% stake in the Tiris uranium project in Mauritania, which the company is also developing as a future supplier of uranium.

The project has an expected mine life of 25 years and is expected to produce 43.5 million pounds of uranium over that period.

The payback period for the Tiris mine is expected to be 2.25 years.

Aura Energy shares traded as high as 24.5 cents on the news out of Sweden, before settling back to be 0.9% higher at 22.2 cents.

The company was valued at $202.1 million at the close of trade on Wednesday.

The post Swedish vote to overturn uranium mining ban a positive for this Aussie developer appeared first on The Motley Fool Australia.

But shares are struggling today and are currently down 3.17% to 30.5 cents.

Aura Energy is a minerals company exploring uranium, vanadium, gold and base metals. Some of its projects include the Tiris Uranium project and the Tasiast South Gold Project in Mauritania, northwest Africa.

There have been a few announcements made by the company amid its share price charting upwards. Let's cover the highlights.

What has the company announced?

On 6 September, Aura announced it had submitted a proposal to the National Authority for Radioprotection, Safety and Nuclear Security (ARSN) in Mauritania to help kickstart uranium production and export.

The proposal included draft key management plans that the ARSN will assess to potentially greenlight uranium production at the company's Tiris site and export uranium oxide concentrate from the country.

Aura Energy's acting CEO Will Goodall commented:

The establishment of ARSN is a positive outcome of the planning by the Mauritanian Government in preparation for becoming a uranium producing and exporting country. The ARSN authorisations framework provides a clear pathway for uranium production and export and, through the Government's close collaboration with the [International Atomic Energy Agency] IAEA, we are confident the process will be smooth and transparent.

And then, on 19 September, David Woodall was appointed as the company's managing director and CEO.

Woodall has held senior positions at other materials companies such as Rio Tinto Limited (ASX: RIO), Fortescue Metals Group Limited (ASX: FMG), and others.

Earlier in the year, Aura Energy was mentioned as part of a roundup post of ASX energy shares that billionaire John Hancock believes will benefit from the world's transition to cleaner energy sources and the rise in inflation.

Aura Energy share price snapshot

The Aura Energy share price is up 11% year to date and 78% over the past 12 months. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 13% and 11%, respectively, over the same timeframes.

The company has a market capitalisation of around $159.50 million.

The post Guess which under-the-radar ASX energy share has soared 34% in 6 weeks appeared first on The Motley Fool Australia.

While the All Ordinaries Index (ASX: XAO) remains down by more than 5% for the calendar year, the S&P/ASX 300 Metals & Mining Index (ASX: XMM) has charged ahead, up 7.4%.

ASX mining shares, as you're likely aware, have received some welcome tailwinds from soaring commodity prices.

That's in part due to constricted supply chains amid rising demand as the world reopens from its lengthy COVID pause. It's a situation that's been exacerbated by Russia's invasion of Ukraine.

But commodities aren't the only area seeing big price increases.

The broader impact of rising inflation

While rising commodity prices are adding to the leap in inflation across most of the world, there are other factors at work sending inflation figures to their highest levels in decades. Like the bill coming due to years of historically low interest rates and unprecedented quantitative easing (QE) from global central banks.

And as well as benefiting from the price rises in the commodities they dig from the ground, ASX mining shares are likely beneficiaries of this fast-rising broader inflation.

As billionaire John Hancock, adviser to New York fund manager Lind Partners, pointed out (courtesy of The Australian Financial Review), "Commodities traditionally perform well in periods of inflation".

3 ASX mining shares John Hancock is buying

Hancock named three specific ASX mining shares he believes are well positioned for not just higher inflation but also the ongoing global energy transition.

These are:

• Kuniko Ltd (ASX: KNI), a small-cap ASX mining share focused on nickel, copper, and cobalt exploration
• Vulcan Energy Resources Ltd (ASX: VUL), which is primarily focused on lithium supply solutions for the electric vehicle markets
• Aura Energy Limited (ASX: AEE), a uranium, vanadium, and gold explorer

"I'm focused on commodities, particularly those required for energy transition such as lithium, nickel, cobalt, and copper," Hancock said.

He continued:

Commodities traditionally perform well in periods of inflation, but I'm more focused on the over-riding paradigm shift of energy transition, of which uranium has a role too. My investments in Vulcan Energy, Norway cobalt explorer Kuniko and Aura Energy, with its low cost Tiris project, reflect my views.

While these three ASX mining shares have all underperformed the benchmark in 2022, they have outperformed over the past 12 months.

The post 3 ASX mining shares billionaire John Hancock is buying for rising inflation and the energy transition appeared first on The Motley Fool Australia.