Sweden Ends Uranium Mining Ban

Author

Jay Lutz
August 28, 2025

 

Sponsored by First Majestic Silver

Sweden Ends Uranium Mining Ban

Sweden will reverse its ban on uranium mining beginning in January 2026, Environment Minister Romina Pourmokhtari announced Wednesday, as the Scandinavian nation embarks on ambitious nuclear energy expansion plans.

The country halted all uranium extraction activities in 2018 amid environmental and cost concerns under the previous Social Democratic administration.

Pourmokhtari framed the decision in terms of national security and energy independence, telling reporters that geopolitical tensions necessitate greater self-sufficiency in critical materials.

You can read more on the matter here.

First Majestic Silver (TSX: AG) (NYSE: AG) is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A, alongside their own minting facility, First Mint. Current guidance calls for 31.6 million ounces of silver equivalent production in 2025, at cash costs of just $14.15 an ounce.

What’s going on?

  • Sweden Moves to End Uranium Mining Ban (theDeepDive)

  • Slower Housing Market, Economy Leads EQB to Fall Most Since 2020 (Bloomberg)

  • CDC Director Fired After Refusing to Resign, Senior Officials Quit in Protest (theDeepDive)

  • The Americans are selling Canadian natural gas to Europe at a profit (NP)

  • Universities Canada Warns of Enrollment Collapse But Won’t Release Specific Numbers (theDeepDive)

  • Federal Reserve’s Lisa Cook sues Donald Trump over move to fire her (FT)

  • Rare Earth Prices Surge 40% After MP Materials Cuts China Ties (theDeepDive)

  • Poll suggests 85% of Canadians want governments to regulate AI (TS)

What’s the latest?

  • Economy: U.S. GDP grew 3.3% in Q2 2025 after a 0.5% decline in Q1, boosted by a 29.8% drop in imports that added over 5 points to growth. Consumer spending rose 1.6%, while private investment plunged 13.8%, the sharpest drop since 2020. Federal government spending fell 4.7%, and core GDP growth (excluding trade and inventories) held at 1.9%.

  • CIBC: CIBC posted Q3 profit of C$2.10B, up from C$1.80B last year, with revenue rising to C$7.25B from C$6.60B. EPS climbed to C$2.15 from C$1.82, while adjusted EPS hit C$2.16, topping analyst expectations of C$2.00. Provisions for credit losses increased to C$559M from C$483M.

  • Hudson’s Bay: Hudson’s Bay is in court over its plan to sell 28 leases to B.C. billionaire Ruby Liu, with landlords opposing the transfer of 25 of them. Three leases in malls Liu owns have already been transferred. Landlords argue her timelines and budget are inadequate, while the Bay’s lawyer says Liu has no debt, strong capital, and has committed to paying a year of rent upfront.

  • Employment : Canada recorded 492,000 job vacancies in June, partly reversing declines in April and May, but vacancies were still down 59,200 (-10.7%) year-over-year. Construction was the only sector with a significant gain, adding 4,600 vacancies (+13.1%) to reach 39,500. The construction job vacancy rate rose to 3.2% from 2.9% in May. Average weekly earnings increased 3.7% year-over-year to $1,302, with a 0.7% monthly rise in June.

  • Stocks: Wall Street slipped Thursday, with the S&P 500 down 0.1%, the Dow off 52 points (-0.1%), and the Nasdaq nearly flat. Hormel dropped 4.7% after missing forecasts, while Victoria’s Secret jumped 9.7% on strong results; Broadcom (+2.7%) and AMD (+1.9%) gained, but Nvidia fell 1% despite beating estimates. Jobless claims declined, showing firms are retaining workers, while U.S. GDP grew 3.3% in Q2 after contracting 0.5% in Q1. Traders see an 85.3% chance the Fed will cut rates by 0.25% in September.

i-80 Gold Q2 Earnings

The stock market and stuff

  • TD Bank’s Q3 2025 Earnings Swings To $3.34B From A Net Loss (theDeepDive)

  • NexGen Encounters Off-Scale Mineralization In Two New Holes At PCE (theDeepDive)

  • Nippon Steel bets on $11 billion investment, tech transfer to lift U.S. Steel profit (Reuters)

  • Equinox Gold Begins Processing Ore At Valentine Mine (theDeepDive)

In the juniors

  • Guanajuato Silver Posts Revenue Drop, Wider Loss, Lower Output In Q2 2025 (theDeepDive)

  • Luca Mining Doubles Revenue In Q2 2025 (theDeepDive)

  • Antimony Resources Drills 5.27% Sb Over 4.95 Metres In Latest Results (theDeepDive)

FULL DISCLOSURE: First Majestic Silver is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of First Majestic Silver. The author has been compensated to cover First Majestic Silver on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.