By The Rio Times | Created at 2025-01-23 10:24:35 | Updated at 2025-01-31 18:00:35
1 week ago
Brazil has rekindled its uranium exploration efforts after a 40-year pause. The state-owned Indústrias Nucleares do Brasil (INB) launched a partnership program in August 2024 to collaborate with mining companies.
This move aims to boost domestic uranium production and potentially position Brazil as a major exporter. Currently, Brazil’s uranium output falls short of its needs for the Angra I and II nuclear plants.
With Angra III under construction, demand will increase further. The global uranium market has seen prices triple, creating new opportunities for expansion. Brazil’s uranium reserves rank eighth globally, based on a decades-old study.
Some experts believe the country’s true potential could rival Kazakhstan’s, potentially placing Brazil second worldwide. The only active mine, INB’s Caetité unit, produces 340 tonnes annually. Plans are underway to expand this to 670 tonnes by 2027.
International interest in Brazil’s uranium sector is growing. Companies from Russia, India, Korea, France, Australia, the United States, and China have shown interest in partnerships.
Brazil Reignites Uranium Ambitions, Eyeing Global Market. (Photo Internet reproduction)The Santa Quitéria project, a joint venture between INB and fertilizer producer Galvani, aims to produce 2,300 tonnes of uranium concentrate yearly.
However, bureaucratic hurdles persist. The Santa Quitéria project, conceived over a decade ago, still awaits necessary permits. Galvani expects to receive its first environmental license this year, with production potentially starting by 2028.
As Brazil advances its uranium exploration plans, it must balance economic opportunities with environmental concerns. The country’s commitment to responsible resource management is evident in the recent approval for decommissioning the Caldas uranium mine.
Brazil’s renewed focus on uranium exploration signals a significant shift in its energy strategy. As global demand for nuclear power grows, Brazil aims to establish itself as a key player in the international uranium market.
