Tertiary Minerals (LSE:TYM) (AIM: TYM) has reported increased enquiries about its 100%-owned Storuman Fluorspar Project in Sweden following the government's launch of a new mineral strategy designating critical minerals, including fluorspar, as being of national security interest.
Sweden's Deputy Prime Minister has said the strategy would make it easier for the state to assign land to mining projects, an area of longstanding tension with the Sami reindeer-herding community.
Storuman is the most advanced fluorspar project in Scandinavia, backed by a JORC-compliant mineral resource estimate and a positive economic scoping study from 2011 that supported a mining permit application in 2014.
A 25-year mining permit was granted in 2016 but overturned the following year, and the project has been under appeal since, with the Company's latest submission lodged in early 2025.
Tertiary said it remains in contact with Swedish government offices but has received no decision or timeframe on the appeal.
Richard Belcher, Managing Director, said the government's announcement in late July had already produced "several recent successful mining licence appeals" and increased media coverage, alongside a pickup in interest in Storuman.
He noted that the Norra Kärr project, whose 2016 Supreme Court reversal triggered Storuman's reassessment, has now finally been granted a permit, calling it "a positive step for the mining industry".
Belcher said the mineral resource estimate and scoping study assumptions would need updating before Storuman could advance further, adding the Company hopes to provide a project update "in the near future".
News Intelligence what this means for the company
Sweden's designation of fluorspar as a national security-critical mineral has triggered fresh enquiries about Tertiary Minerals' Storuman project, which has languished under appeal since its 2016 permit was overturned in 2017. The company's latest appeal submission was lodged in early 2025, and while no decision or timeframe has been received, the government's stated intent to ease land assignment for critical minerals projects—combined with a recent permit grant for the competing Norra Kärr project—signals a shift in the regulatory environment that could unlock a long-stalled asset.
Storuman remains entirely permit-dependent with no active development timeline; the company has flagged that its 2011 scoping study assumptions will need updating before the project can advance. The regulatory tailwind is real, but Tertiary's cash position (£78,000 as of June 2026) means any material progress would likely require external funding or partner support.
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