The Brazilian government is considering the possibility of opening the uranium and other nuclear minerals mining market to the private sector. The proposal is currently under review by the Office of the Chief of Staff and the Ministry of Mines and Energy.
According to the draft regulation obtained by Bloomberg, partnerships with private companies would be possible provided that the state-owned nuclear company (INB) holds at least a 20% stake in each venture, and such partnerships would cover the mining, processing, industrialization, and commercialization of uranium and other nuclear minerals.
The news comes at a unique moment in the global nuclear energy production chain; given the high demand and the fact that more than half of global production is concentrated in just three countries, the opening of the Brazilian market could represent a major step forward for the sector.
Brazil currently holds about 3% of the world’s uranium reserves, yet its production lags behind that of other countries with even smaller reserves. Today, the country has only one operational uranium mine, in Bahia, which produces just a fraction of the fuel consumed by the Angra dos Reis power plant.
The INB, however, plans to revitalize Brazil’s nuclear energy sector through domestic and international private partnerships; the federal public enterprise aims to increase uranium production, develop the nuclear fuel cycle, and prepare the sector for future demand.
