Business · Energy & Commodities · 1 hr ago
Foreign and Brazilian groups position for uranium projects in Brazil
At least five groups are positioning for uranium and nuclear energy projects in Brazil as the government prepares changes to how the sector operates.
The state company INB currently holds the federal monopoly on uranium exploration.
A 2022 law allowed INB to partner with private companies but kept the monopoly in place.
The groups identified include Diamante, Atlas Critical Minerals, Core Energy Minerals, Brazilian Rare Earths and Energy Fuels.
Diamante has partnered with Russia’s Rosatom through a new company to develop mining projects, including uranium.
The plans across the sector range from mineral research and uranium recovery to small reactors and electricity generation.
Companies are waiting for a federal decree that will set out how partnerships with INB can work.
At least five foreign and Brazilian business groups are positioning themselves for uranium and nuclear energy projects in Brazil.
The groups include Diamante, Atlas Critical Minerals, Core Energy Minerals, Brazilian Rare Earths and Energy Fuels.
The moves come as President Luiz Inácio Lula da Silva’s government prepares rules for private partnerships with state-owned uranium company INB.
Uranium exploration remains a federal monopoly, although a 2022 law widened the scope for partnerships with private companies.
Projects range from mineral research and uranium recovery to small reactors and electricity generation.
- Who
- At least five foreign and Brazilian business groups, including Diamante, Atlas Critical Minerals, Core Energy Minerals, Brazilian Rare Earths and Energy Fuels.
- What
- They are positioning themselves for uranium and nuclear energy projects in Brazil.
- When
- The groups are preparing projects as the government works on new rules; the article was published on November 2, 2026.
- Where
- Brazil.
- Why
- The groups are pursuing opportunities in uranium and nuclear energy as rules for partnerships with the state-owned INB are being prepared.
This story does not have two clearly opposing sides.
A law expanded the possibilities for partnerships between INB and private companies without ending the federal uranium monopoly.
Diamante created NBEPar to organize its nuclear business.
Diamante’s group took control of Terminus, which is developing a small nuclear reactor.
Bento Albuquerque and Ney Zanella dos Santos visited a uranium concentrate production facility in Russia.
- Groups identified
- Five: Diamante, Atlas Critical Minerals, Core Energy Minerals, Brazilian Rare Earths and Energy Fuels
- Atlas mineral claims
- 39 processes covering 143,700 hectares
- Core Energy project areas
- About 320 km² in Goiás and 364.5 km² in Rio Grande do Sul
- Uranium exploration
- A federal monopoly exercised by INB
- Partnership law
- Sanctioned in December 2022
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What people are saying
Anticipating potential legislative changes in Brazil in the coming years, we are strategically evaluating areas with uranium potential.