Race for Brazilian Uranium Attracts Foreign Groups and Former Bolsonaro Government Officials - Folha de S.Paulo

At least five groups of foreign and domestic companies are positioning themselves in Brazil's uranium and nuclear energy business as Lula's (PT) government prepares rules to allow private partnerships with INB (Indústrias Nucleares do Brasil). Uranium mining is a federal monopoly exercised by the state-owned company, and the sector is awaiting a decree detailing how the partnerships will operate.

Folha's investigation identified the Diamante group, Atlas Critical Minerals, Core Energy Minerals, BRE (Brazilian Rare Earths) and Energy Fuels. Diamante brought together former Bolsonaro administration officials Bento Albuquerque, a former mines and energy minister, and Ney Zanella dos Santos, a former president of ENBPar. Through NBEPar, it partnered with Russian state-owned company Rosatom to form Nadina Minerals and is developing a nuclear microreactor.

Atlas said it holds 39 mining claims with uranium potential, covering a total of 143,700 hectares. Australia's Core Energy has projects in Goiás, Paraíba and Rio Grande do Sul. BRE plans to produce "yellowcake" in Bahia from uranium associated with rare earths, while Energy Fuels is studying heavy mineral sands in the state. BRE says the projected volumes "refer to the future integrated operation, not the pilot plant's capacity or current production." Energy Fuels said any progress "will occur only with the necessary authorizations and in full compliance with Brazilian law."

The Ministry of Mines and Energy said in February that the decree was in its final stages, but the ministry has now reiterated that the matter remains under review. The presidential chief of staff's office said the proposal "remains under discussion among the government's technical departments." The BNDES (Brazilian Development Bank) expects to present the partnership model by the second quarter of 2027. Most companies did not comment.