Rosatom structure, Brazil's NBEPar to create JV for mineral extraction in Brazil

MOSCOW. March 25 (Interfax) - Uranium One Group (part of TENEX, Rosatom state corporation) and Brazil's NBEPar have signed an agreement to establish a joint venture, Nadina Minerals, TENEX said.

The company will engage in mineral extraction in Brazil, it said.

The partners plan to conduct geological exploration at promising deposits. Based on them, modern enterprises will be created for extracting and processing metals that are critical for the development of high-tech industries, TENEX said.

In recent years, Rosatom has been actively developing cooperation with Brazil in the nuclear fuel cycle sector. At the end of 2022, it reported a contract between a structure of Tekhsnabexport (a Russian exporter of nuclear materials, part of Rosatom) and Brazil's INB for supplying enriched uranium products to power the Angra nuclear power plant in 2023-2027. In addition, Rosatom has been one of the largest suppliers of isotope products for the needs of nuclear medicine in Brazil for several years.

Rosatom General Director Alexei Likhachev listed Brazil among the countries interested in floating power units. "There are many states with long coastlines - say, Brazil or Argentina. There are many countries with island infrastructure - Indonesia, Malaysia. And these are both southern countries and countries located in cold latitudes," Likhachev said in the spring of 2023.

Brazil expects to reach an agreement with Rosatom on cooperation in the nuclear sphere by the end of 2025, the Brazilian Mines and Energy Ministry previously said.