11:16 AM EST, 11/05/2025 (MT Newswires) -- District Metals ( DMXCF ) announced Wednesday that the Swedish Parliament voted to repeal the moratorium on uranium mining and exploration in Sweden imposed in 2018 and approved new legislation permitting uranium exploration and mining that will come into effect on Jan 1, 2026. Shares were up 12%.

"The Swedish Government's consistent and thorough approach to lifting the uranium moratorium has now culminated in today's historic vote by the Swedish Parliament to repeal the ban on uranium exploration and mining," said District Metals ( DMXCF ) chief executive Garrett Ainsworth. "In anticipation of this decision, District Metals ( DMXCF ) updated the Viken Energy Metals Deposit mineral resource estimate on April 29, 2025, and completed airborne geophysical surveys across our uranium polymetallic properties in Sweden."

Uranium will be classified as a "concession mineral" under the Minerals Act and the section of the Environmental Code prohibiting uranium-related mining and processing will be repealed or amended. The company noted that technical and regulatory safeguards will remain in place, including oversight from the Swedish Radiation Safety Authority and environmental impact assessments consistent with Sweden's high-standard permitting regime.

"Looking ahead to 2026, we are now eager to further advance exploration programs at our uranium properties in Sweden that we anticipate will include fieldwork, additional airborne geophysics, drilling, and an economic study of the Viken Deposit," said Ainsworth.

Shares of the company were last seen up $0.165 at $1.525 on the TSX Venture Exchange.

Price: 1.51, Change: +0.15, Percent Change: +11.03